Mkango Resources exercises option to acquire shares in Mkango Polska

In Canada on November 26, 2024, Mkango Resources Ltd. held its Annual General Meeting (AGM) where all resolutions were passed successfully. The company announced its intention to exercise a call option under the previously established Put and Call Option Agreement with EIT RawMaterials GmbH, which was dated August 12, 2024. Mkango will acquire six shares in Mkango Polska at a nominal value, which EIT RawMaterials currently holds. To finalize this transaction, Mkango has agreed to settle an overall purchase price totaling EUR 200,000 and PLN 300 by issuing 2,041,855 Mkango shares. The share price for this calculation was set at CAD 0.145 per share, and the new shares are on track to be issued around December 5, 2024, pending the approval from TSX-V and their admission to trading on AIM. After the issuance of these shares, Mkango expects its total outstanding share capital to increase to 297,078,761 shares, allowing shareholders to understand their interest calculations in relation to the company's capital structure. This transaction emphasizes Mkango's strategic progression in acquiring stakes in essential operations and investments, reflecting a significant development in their ongoing projects.