Appointment of Cohen &
Company as USA Financial Advisor and Welsbach Corporate Solutions
as Supply Chain Advisor in relation to the Songwe and Pulawy
Projects
London / Vancouver:
November 27, 2024 - Mkango Resources Ltd (AIM/TSX-V: MKA)
("Mkango") is pleased to announce that, pursuant to the strategic
review for the Songwe Hill Rare Earth project in Malawi ("Songwe")
and the Pulawy Rare Earth Separation Plant in Poland ("Pulawy")
announced on 25th March 2024, Mkango's 100% wholly owned
subsidiary, Lancaster Exploration (the "Company" or "Lancaster")
has appointed Cohen & Company Capital Markets ("Cohen"), a
division of J.V.B. Financial Group LLC https://www.cohencm.com/about
as financial advisor, encompassing USA listing, mergers and
acquisitions, strategic and other financial advice and Welsbach
Corporate Solutions LLC-FZ ("Welsbach") as Supply Chain
Advisor.
Cohen is a New York based independent investment and
merchant banking group which has established itself as a leading
advisor to companies across the rare earth elements ecosystem. The
firm has guided both upstream producers and downstream processors
through a range of strategic initiatives and transformative
transactions critical to securing the global rare earth supply
chain.
Cohen & Company Capital Markets is a trusted
advisor to leading companies in the sector, acting as:
•
Exclusive Financial Advisor, Lead Capital Markets Advisor, and
Placement Agent to USA Rare Earth LLC on its announced US$870
million business combination with Inflection Point Acquisition
Corp. II
•
Exclusive Financial Advisor, Lead Capital Markets Advisor, and
Placement Agent to Plum Acquisition Corp. III on its announced
US$589 million business combination with Tactical Resources
Corp.
•
Financial Advisor, Capital Markets Advisor, and Placement Agent to
Sizzle Acquisition Corp. on its closed US$838 million business
combination with Critical Metals Corp. (Nasdaq: CRML) & as
Financial Advisor to CRML on its acquisition of the Tanbreez
Greenland Rare Earth Mine
•
Exclusive Financial Advisor & Lead Capital Markets Advisor to
Stardust Power Inc. (Nasdaq: SDST) on its closed US$493 million
business combination with Global Partner Acquisition Corporation
II
Alexander Lemon,
President of Mkango stated: "We are very excited to appoint
Cohen as our financial adviser in the USA for Songwe and Pulawy.
This comes at a pivotal time in Mkango's development, against the
backdrop of transformational changes in the rare earth sector, we
very much look forward to working with Cohen to position the
company strategically to significantly increase value for our
shareholders."
Brandon Sun,
Managing Director of Cohen stated: "The rare earth sector is
at an inflection point, at the intersection of investor, strategic
and retail interest given regulatory tailwinds and secular
long-term demand. Mkango will be a major beneficiary going forward,
and we are privileged to have the opportunity to drive the growth
and capital formation process for the Songwe and Pulawy
platform."
Daniel Mamadou
Director of Welsbach stated: "As the global demand for
critical materials continues to rise, the rare earths supply chain
faces unprecedented pressure to meet the needs of key industries
such as renewable energy, electric vehicles, and advanced
technologies. This demand underscores the urgent need for
additional diversification in sourcing these essential elements.
Today, the supply of rare earths is heavily concentrated in a few
regions, creating vulnerabilities that can disrupt the entire value
chain. To build resilience and ensure a stable supply, it is
imperative that sourcing efforts are expanded to include new
geographies and emerging producers."
About Mkango
Resources Ltd.
Mkango is listed on the AIM and the TSX-V. Mkango's
corporate strategy is to become a market leader in the production
of recycled rare earth magnets, alloys and oxides, through its
interest in Maginito Limited ("Maginito"), which is owned 79.4 per
cent by Mkango and 20.6 per cent by CoTec, and to develop new
sustainable sources of neodymium, praseodymium, dysprosium and
terbium to supply accelerating demand from electric vehicles, wind
turbines and other clean energy technologies. Maginito holds a 100
per cent interest in HyProMag and a 90 per cent direct and indirect
interest (assuming conversion of Maginito's convertible loan) in
HyProMag GmbH, focused on short loop rare earth magnet recycling in
the UK and Germany, respectively, and a 100 per cent interest in
Mkango Rare Earths UK Ltd ("Mkango UK"), focused on long loop rare
earth magnet recycling in the UK via a chemical route. Maginito and
CoTec are also rolling out HyProMag's recycling technology into the
United States via the 50/50 owned HyProMag USA LLC joint venture
company. HyProMag is also evaluating other jurisdictions, and
recently launched a collaboration with Envipro on rare earth magnet
recycling in Japan. Mkango also owns the advanced stage Songwe Hill
rare earths project and an extensive rare earths, uranium,
tantalum, niobium, rutile, nickel and cobalt exploration portfolio
in Malawi, and the Pulawy rare earths separation project in
Poland.
For more information, please visit www.mkango.ca
About Cohen
& Company Capital Markets
Cohen & Company Capital Markets ("CCM"), a
division of J.V.B. Financial Group, LLC, has offices in New York
City and Menlo Park, California. CCM was founded in 2021 and has
established itself as an elite full-service boutique investment
banking firm with differentiated product expertise and bulge
bracket DNA. CCM partners with leading and emerging companies
across sectors to address strategic and financial opportunities,
and leverage a strong reputation, broad network, and superior
execution to serve clients' interest first and always. CCM's
indirect parent is Cohen & Company Inc. (NYSE American:
COHN).
For additional information, please visit cohencm.com
About Welsbach
Corporate Solutions LLC-FZ
Welsbach Corporate Solutions LLC-FZ ("WCS") is a
division of Welsbach Holdings Pte Ltd which has offices in Dubai,
Singapore and Madrid. Welsbach is a project development group
focused on the design and financing of critical materials supply
chains, with a particular focus on rare earths and lithium.
For additional information, visit www.welsbach.holdings
Market Abuse
Regulation (MAR) Disclosure
The information contained within this announcement is
deemed by the Company to constitute inside information as
stipulated under the Market Abuse Regulations (EU) No. 596/2014
('MAR') which has been incorporated into UK law by the European
Union (Withdrawal) Act 2018. Upon the publication of this
announcement via Regulatory Information Service, this inside
information is now considered to be in the public domain.
Cautionary
Note Regarding Forward-Looking Statements
This news release contains forward-looking
statements (within the meaning of that term under applicable
securities laws) with respect to Mkango, its business and the
Project. Generally, forward looking statements can be identified by
the use of words such as "plans", "expects" or "is expected",
"scheduled", "estimates" "intends", "anticipates", "believes", or
variations of such words and phrases, or statements that certain
actions, events or results "can", "may", "could", "would",
"should", "might" or "will", occur or be achieved, or the negative
connotations thereof. Forward looking statements in this news
release include statements with respect to the global market for
rare earth metals. Readers are cautioned not to place undue
reliance on forward-looking statements, as there can be no
assurance that the plans, intentions or expectations upon which
they are based will occur. By their nature, forward-looking
statements involve numerous assumptions, known and unknown risks
and uncertainties, both general and specific, that contribute to
the possibility that the predictions, forecasts, projections and
other forward-looking statements will not occur, which may cause
actual performance and results in future periods to differ
materially from any estimates or projections of future performance
or results expressed or implied by such forward-looking statements.
Such factors and risks include, without limiting the foregoing,
market effects on global demand for the metals and associated
downstream products for which Mkango is exploring, researching and
developing, delays in obtaining financing or governmental or stock
exchange approvals. The forward-looking statements contained in
this news release are made as of the date of this news release.
Except as required by law, the Company disclaims any intention and
assumes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by applicable law. Additionally,
the Company undertakes no obligation to comment on the expectations
of, or statements made by, third parties in respect of the matters
discussed above.
For further
information on Mkango, please contact:
Mkango
Resources Limited
Alexander
Lemon
William
Dawes
President
Chief Executive Officer
alex@mkango.ca
will@mkango.ca
Canada: +1 403 444
5979
www.mkango.ca
@MkangoResources
SP Angel
Corporate Finance LLP
Nominated Adviser and Joint Broker
Jeff Keating, Caroline Rowe
UK: +44 20 3470 0470
Alternative
Resource Capital
Joint Broker
Alex Wood
UK: +44 20 7186 9004
Cohen
Capital
Strategic and Financial Adviser
Brandon Sun
USA: +1 929 432 1254
Welsbach
Corporate Solutions LLC-FZ
Supply Chain Advisor
Daniel Mamadou
daniel@welsbach.sg
The TSX Venture Exchange has neither approved
nor disapproved the contents of this press release. Neither the TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release. This
press release does not constitute an offer to sell or a
solicitation of an offer to buy any equity or other securities of
the Company in the United States. The securities of the Company
will not be registered under the United States Securities Act of
1933, as amended (the "U.S. Securities Act") and may not be offered
or sold within the United States to, or for the account or benefit
of, U.S. persons except in certain transactions exempt from the
registration requirements of the U.S. Securities Act.
