Aim- and TSX-V-listed rare earths miner Mkango Resources has received conditional approval from the TSX-V for the issuance of 23-million common shares of no par value at an issue price of £0.24 a new share, thereby raising £5.52-million from new and existing investors.
Subscriptions from related parties – Resource Early Stage Opportunities Company (RESOC) for 1.66-million new shares and Derek Linfield for 2.91-million new shares – remain conditional on approval from shareholders other than RESOC and Linfield.
Approval for these two subscriptions will be sought at Mkango’s yearly general and special meeting of shareholders on October 6.