Mkango and CoTec Provide Transaction Update
Provided By Globe Newswire
Last update: Oct 28, 2022
LONDON and VANCOUVER, British Columbia, Oct. 28, 2022 (GLOBE NEWSWIRE) -- Mkango Resources Ltd. (AIM/TSX-V: MKA) (the “Company” or “Mkango”) and CoTec Holdings Corp. (TSX-V: CTH) (“CoTec”) are pleased to provide an update on the transaction announced on 30th May 2022. The parties are currently finalising documentation and, in order to accommodate delayed timelines, CoTec has agreed to advance a further £222,500 (US$250,000) to Mkango by way of a convertible advance note (the “Advance”) and Mkango has agreed to extend the exclusivity period to 23rd December 2022. The terms of the Advance are consistent with the terms of the advance that CoTec provided to Mkango in September 2022. The conversion rights associated with the Advance remain subject to TSX Venture Exchange approval.
