Maginito to Acquire Pioneering Rare Earth Magnet Recycler HyProMag

Provided By Globe Newswire

Last update: May 16, 2023

HIGHLIGHTS:

LONDON and VANCOUVER, British Columbia, May 16, 2023 (GLOBE NEWSWIRE) -- Mkango Resources Ltd. (AIM/TSX-V: MKA) (the “Company” or “Mkango”) is pleased to announce that it has entered into an agreement to increase its ownership in HyProMag Limited (“HyProMag”) from 42% to 100% for a cash and share consideration (the “Transaction”). The Transaction is conditional upon the approval of the TSX Venture Exchange and approval pursuant to the UK’s National Security and Investment (NSI) Act. Approval of the latter is expected no later than the third quarter of 2023.