Mkango Resources Secures Funding for SPAC Merger and NASDAQ Listing

Mkango Resources ( (TSE:MKA) ) just unveiled an update.

Mkango Resources Ltd announced a US$750,000 Note Purchase Agreement for its subsidiary, Lancaster Exploration Limited, in connection with a proposed SPAC merger and NASDAQ listing. This agreement aims to provide Lancaster with working capital to complete the merger and advance its public listing. The merger is expected to create a vertically integrated rare earths platform, positioning Lancaster to hold Mkango’s rare earths project in Malawi and a separation plant in Poland. This move is seen as transformative for Mkango, potentially enhancing its industry positioning by expanding its reach in the rare earths sector.

More about Mkango Resources

Mkango Resources Ltd is a company listed on AIM and the TSX-V, focused on becoming a leader in the production of recycled rare earth magnets, alloys, and oxides. It aims to develop sustainable sources of neodymium, praseodymium, dysprosium, and terbium to meet the growing demand from electric vehicles, wind turbines, and other clean energy technologies. The company has interests in rare earth magnet recycling through Maginito Limited and owns the Songwe Hill rare earths project in Malawi and the Pulawy rare earths separation project in Poland.

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