Mkango Closes Private Placement
Mkango closes private placement of 577,271 shares at 11p to three executives.
- Shares issued 577,271
- Price per share 11p
- Total value (after-tax bonus) £37,500
- Post-admission issued shares 326,843,532
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Suite 2900
Vancouver
BC V6C 0A3
Canada
MKANGO CLOSES PRIVATE PLACEMENT
London / Vancouver: 13 March 2025 - Mkango Resources Ltd. (AIM/TSX-V: MKA) (the "Company" or "Mkango") announces that, further to the Company's announcement on 28 February 2025, it has closed its private placement through the issuance of 577,271 common shares of the Company (the "Placement Shares") at a price per Placement Share of 11 pence ("p") (approximately C$0.205, using the Bank of Canada exchange rate as of closing on 12 March 2025 of £1:C$1.8649 (The "Private Placement") to management.
Of the total, 236,363 shares have been issued to William Dawes, 236,363 shares to Alexander Lemon and 104,545 shares to Robert Sewell, structured for tax and regulatory reasons as a cash bonus and private placement of the after-tax amounts of the bonus. The value of the after-tax bonus invested in the shares of the Company is £26,000 (C$48,487) for William Dawes and Alexander Lemon, and £11,500 (C$21,446) for Robert Sewell.
In accordance with the Disclosure Guidance and Transparency Rules (DTR 5.6.1R) the Company hereby notifies the market that immediately following Admission, its issued and outstanding share capital will consist of 326,843,532 shares. The Company does not hold any shares in treasury. Shareholders may use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
The Placement Shares have been admitted to trading on AIM on 12 March 2025 and will also be listed for trading on the TSX-V and will be subject to a statutory hold period in Canada expiring on 13 July 2025.
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | 1) William Dawes 2) Alexander Lemon 3) Robert Sewell |
| 2 | Reason for the notification | |
| a) | Position/status | 1) Chief Executive Officer 2) President and Co-Founder 3) Chief Financial Officer |
| b) | Initial notification /Amendment | Initial Notification |
| a) | Name | Mkango Resources Ltd |
| b) | LEI | 213800RPILRWRUYNTS85 |
| a) | Description of the financial instrument, type of instrument | Common shares of nil par value each |
| Identification code | ISIN: CA60686A4090 | |
| b) | Nature of the transaction | Issue of Common Shares in connection with a Private Placement |
| c) | Price(s) and volume(s) | Price(s) Volume(s) 1) 11p 2) 11p 3) 11p 236,363 236,363 104,545 |
| d) | Aggregated information - Aggregated volume - Price | Price(s) Volume(s) 1-3) 11p 577,271 |
| e) | Date of the transaction | 28 February 2025 |
| f) | Place of the transaction | Outside a trading venue |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.