CoTec Provides Additional £500,000 Funding to Mkango

LONDON and VANCOUVER, British Columbia, Sept. 07, 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 announce that, further to the announcements on 30 May and 21 June 2022, CoTec has agreed to advance a further £500,000 (C$755,000) to Mkango by way of a convertible advance note (the “Advance”) and Mkango has agreed to extend CoTec’s exclusivity period with respect to the proposed transaction, announced on 30 May 2022, until 30 November 2022. The Advance is to be completed no later than 15 September 2022. The terms of the Advance are consistent with the terms of the £500,000 advance that CoTec provided to Mkango in June 2022 (the “Initial Advance”). The conversion rights associated with the Advance remain subject to TSX Venture Exchange approval.

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