Mkango Resources Receives GBP1.1 Million Through Warrants Exercise (ALLISS)

(Alliance News) - Mkango Resources Ltd said Monday its has received GBP1.1 million in proceeds ...

Alliance News 17 June, 2019 | 12:36PM
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(Alliance News) - Mkango Resources Ltd said Monday its has received GBP1.1 million in proceeds from the exercise of warrants over shares.

Warrants were exercised over 17.2 million shares at a price of 6.6 pence per share. This includes 3.3 million warrants exercised by Chair Derek Linfield, following which he will hold 5.1 million shares in Mkango, reflecting a 3.9% holding in the company.

Shares in the rare earths development company were down 0.7% at 8.74 pence on Monday.

Following the exercise the only warrants outstanding are 12.0 million held by Mkango's strategic partner Talaxis Ltd, and the 1.2 million held by Non-Executive Director Shaun Treacy.

Mkango Resources now has 133.0 million shares in issue overall.

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
Mkango Resources Ltd 7.10 -
Mkango Resources Ltd 0.12 CAD 0.00 -
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