REG - Mkango Resources Ltd - HYPROMAG USA APPOINTS L LOURIE TO ADVISORY BOARD

Mkango ResourcesAnnouncement

24/06/2024 07:00

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RNS Number : 4901T  Mkango Resources Limited  24 June 2024

 

 MKANGO RESOURCES LTD.               COTEC HOLDINGS CORP.
 550 Burrard Street                  755 Burrard Street
 Suite 2900                          Suite 428
 Vancouver                           Vancouver
 BC V6C 0A3                          V6Z 1X6
 Canada                              Canada

 

 

HYPROMAG USA LLC.

APPOINTS LINDA LOURIE AS ADVISORY BOARD DIRECTOR

 

London / Vancouver: June 24, 2024 - CoTec Holdings Corp. (TSXV: CTH; OTCQB:
CTHCF) ("CoTec") and Mkango Resources Ltd. (AIM/TSX-V: MKA) ("Mkango") are
pleased to announce the appointment of Linda Lourie as an Advisory Board
Director to HyProMag USA LLC ("HyProMag USA") effective June 24, 2024.

Julian Treger, CoTec CEO commented: "We are very pleased to welcome Linda to
the Advisory Board of HyProMag USA, our Joint Venture with Mkango Resources
Limited. Linda's unique experience gained as Assistant Director for Research
and Technology Security in the White House Office of Science and Technology
Policy and WestExec Advisors will complement the roll out of HyProMag's
technology in the United States. The Joint Venture bankable Feasibility Study
is making excellent progress and Linda's significant experience will provide
strong direction for the Board and help to drive HyProMag USA's strategy of
securing potential US Government funding and long-term commercial
relationships in the US Market."

Will Dawes, Mkango CEO commented: "We see a very significant opportunity in
the US market and look forward to working with Linda, CoTec and HyProMag USA
as we move into the next phase of growth. HyProMag USA provides a cost
effective and energy efficient solution for the liberation and short loop
recycling of rare earth magnets, helping to unlock the supply chain and
creating a new domestic source of rare earths for the United States."

Linda Lourie commented: "HyProMag USA is very well placed to help secure the
United States a long term, secure and sustainable supply chain for rare earth
magnets through the patented Hydrogen Processing of Magnet Scrap ("HPMS")
technology. I look forward to joining the HyProMag USA Board and working with
the team to grow the company while making US permanent magnet supply chains
more resilient."

Linda Lourie is currently a Principal with WestExec Advisors, the Washington
Circle Advisory Group, LLC, a Member of the U.S. Export-Import Bank's Advisory
Subcommittee on Strategic Competition with the People's Republic of China
(PRC), and serves as Commissioner on the Atlantic Council's Commission on
Software-Defined Warfare, among other affiliations.

Linda was previously the Assistant Director for Research and Technology
Security in the White House Office of Science and Technology Policy (OSTP). In
this role, she served at the Assistant Secretary-level on the Committee on
Foreign Investment in the United States (CFIUS), advised on foreign
investments in emerging and foundational technology, export controls, CHIPS
and Science Act, and led efforts on innovation and information sharing for
AUKUS. Linda has also served as Department of Defense Associate General
Counsel and the General Counsel of the Defense Innovation Unit (DIU).

 

About Mkango Resources Ltd.

Mkango is listed on the AIM and the TSX-V. Mkango's corporate strategy is to
become a market leader in the production of recycled rare earth magnets,
alloys and oxides, through its interest in Maginito Limited ("Maginito"),
which is owned 79.4 per cent by Mkango and 20.6 per cent by CoTec, and to
develop new sustainable sources of neodymium, praseodymium, dysprosium and
terbium to supply accelerating demand from electric vehicles, wind turbines
and other clean energy technologies.

Maginito holds a 100 per cent interest in HyProMag and a 90 per cent direct
and indirect interest (assuming conversion of Maginito's convertible loan) in
HyProMag GmbH, focused on short loop rare earth magnet recycling in the UK and
Germany, respectively, and a 100 per cent interest in Mkango Rare Earths UK
Ltd ("Mkango UK"), focused on long loop rare earth magnet recycling in the UK
via a chemical route.

Maginito and CoTec are also rolling out HyProMag's recycling technology into
the United States via the 50/50 owned HyProMag USA LLC joint venture company.

Mkango also owns the advanced stage Songwe Hill rare earths project and an
extensive rare earths, uranium, tantalum, niobium, rutile, nickel and cobalt
exploration portfolio in Malawi, and the Pulawy rare earths separation project
in Poland. Discussions with the Government of Malawi in relation to the Mining
Development Agreement for Songwe Hill are ongoing.

For more information, please visit www.mkango.ca (http://www.mkango.ca)

About CoTec Holdings Corp.

CoTec is a publicly traded investment issuer listed on the Toronto Venture
Stock Exchange ("TSX- V") and the OTCQB and trades under the symbol CTH and
CTHCF respectively. CoTec is an environment, social, and governance
("ESG")-focused company investing in innovative technologies that have the
potential to fundamentally change the way metals and minerals can be extracted
and processed for the purpose of applying those technologies to undervalued
operating assets and recycling opportunities, as it transitions into a
mid-tier mineral resource producer.

CoTec is committed to supporting the transition to a lower carbon future for
the extraction industry, a sector on the cusp of a green revolution as it
embraces technology and innovation. It has made four investments to date and
is actively pursuing operating opportunities where current technology
investments could be deployed.

For more information, please visit www.cotec.ca (http://www.cotec.ca) .

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements (within the meaning of
that term under applicable securities laws) with respect to Mkango and CoTec.
Generally, forward looking statements can be identified by the use of words
such as "plans", "expects" or "is expected to", "scheduled", "estimates"
"intends", "anticipates", "believes", or variations of such words and phrases,
or statements that certain actions, events or results "can", "may", "could",
"would", "should", "might" or "will", occur or be achieved, or the negative
connotations thereof. Readers are cautioned not to place undue reliance on
forward-looking statements, as there can be no assurance that the plans,
intentions or expectations upon which they are based will occur. By their
nature, forward-looking statements involve numerous assumptions, known and
unknown risks and uncertainties, both general and specific, that contribute to
the possibility that the predictions, forecasts, projections and other
forward-looking statements will not occur, which may cause actual performance
and results in future periods to differ materially from any estimates or
projections of future performance or results expressed or implied by such
forward-looking statements. Such factors and risks include, without limiting
the foregoing, the successful conclusion of the MDA, the availability of (or
delays in obtaining) financing to develop Songwe Hill, the Recycling Plants
being developed by Maginito in the UK, Germany and the US (the "Maginito
Recycling Plants"), and the Pulawy Separation Plant, governmental action and
other market effects on global demand and pricing for the metals and
associated downstream products for which Mkango is exploring, researching and
developing, geological, technical and regulatory matters relating to the
development of Songwe Hill, the ability to scale the HPMS and chemical
recycling technologies to commercial scale, competitors having greater
financial capability and effective competing technologies in the recycling and
separation business of Maginito and Mkango, availability of scrap supplies for
Maginito's recycling activities, government regulation (including the impact
of environmental and other regulations) on and the economics in relation to
recycling and the development of the Maginito Recycling Plants, and the Pulawy
Separation Plant and future investments in the United States pursuant to the
proposed cooperation agreement between Maginito and CoTec, the outcome and
timing of the completion of the feasibility studies, cost overruns,
complexities in building and operating the plants, and the positive results of
feasibility studies on the various proposed aspects of Mkango's, Maginito's
and CoTec's activities. The forward-looking statements contained in this news
release are made as of the date of this news release. Except as required by
law, the Company and CoTec disclaim any intention and assume no obligation to
update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by applicable law.
Additionally, the Company and CoTec undertake no obligation to comment on the
expectations of, or statements made by, third parties in respect of the
matters discussed above.

 

For further information on Mkango, please contact:

Mkango Resources Limited

 

William Dawes                               Alexander Lemon

Chief Executive Officer                  President

will@mkango.ca                             alex@mkango.ca

Canada: +1 403 444 5979

www.mkango.ca (http://www.mkango.ca)

@MkangoResources

 

SP Angel Corporate Finance LLP

Nominated Adviser and Joint Broker

Jeff Keating, Caroline Rowe, Kasia Brzozowska

UK: +44 20 3470 0470

 

Alternative Resource Capital

Joint Broker

Alex Wood, Keith Dowsing

UK: +44 20 7186 9004/5

 

For further information on CoTec, please contract:

 

CoTec Holdings Corp.

Braam Jonker

Chief Financial Officer

braam.jonker@cotec.ca

Canada: +1 604 992-5600

 

The TSX Venture Exchange has neither approved nor disapproved the contents of
this press release. Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release does not constitute an offer to sell or a solicitation of
an offer to buy any equity or other securities of the Company in the United
States. The securities of the Company will not be registered under the United
States Securities Act of 1933, as amended (the "U.S. Securities Act") and may
not be offered or sold within the United States to, or for the account or
benefit of, U.S. persons except in certain transactions exempt from the
registration requirements of the U.S. Securities Act.

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