Mkango Resources Ltd. announced a private placement to issue 15,000,000 subscription shares at a price of CAD 0.086 per share for the gross proceeds of CAD 1,290,000 on March 25, 2024. The transaction included participation from returning investor William Dawes, CEO and a director of the company for 3,000,000 shares. The transaction is expected to close on or about April 10, 2024, and is subject to the receipt of all necessary approvals including the approval of the TSX-V. The subscription shares will be subject to a statutory hold period in Canada expiring on the date that is four months and one day from issuance of the subscription shares. In connection with the transaction, the company will pay commissions of 5% in cash and 600,000 non-transferable broker warrants to Jub Capital Management LLP. The broker warrants will have a term of 3 years from issue and an exercise price of CAD 0.086. SP Angel Corporate Finance LLP will be paid a corporate finance fee of CAD 5150.40.

The TSX Venture Exchange has accepted for filing documentation with respect to a brokered private placement. The transaction included participation from three placees and 1 existing insiders for 3,000,000 shares. The company will pay finder's fees of CAD 56,654.40 and issued 600,000 finder's warrants.