Business
Mkango Resources Limited Announces Submission Draft Registration Statement
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA), ...
About this update from Mkango Resources Ltd.
[{"type":"text","content":"THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA), OR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.","length":355,"tagName":"p"},{"type":"text","content":"Mkango Resources Ltd. Announces the Confidential Submission of Draft Registration Statement by Mkango Rare Earths Limited on Form F-4 in Connection with Proposed Business Combination","length":182,"tagName":"p"},{"type":"text","content":"Key Highlights","length":14,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Mkango Rare Earths Limited has confidentially submitted a draft registration statement on Form F‑4 to the U.S. Securities and Exchange Commission in connection with the previously announced proposed business combination with Crown PropTech Acquisitions.","length":253,"tagName":"p"}]},{"val":[{"type":"text","content":"The implied pro forma valuation of Mkango Resources Ltd.'s shareholding in Mkango Rare Earths Limited is US$400 million, excluding the effects of Mkango Rare Earths Limited's indebtedness, closing cash, transaction expenses, certain investments from Crown PropTech Acquisition's sponsor and affiliate, any net proceeds from a PIPE financing, and amounts remaining in Crown PropTech Acquisition's trust account.","length":426,"tagName":"p"}]},{"val":[{"type":"text","content":"Mkango Rare Earths Limited will apply for a Nasdaq Stock Market listing, the approval of which is a condition to the closing of the proposed business combination.","length":162,"tagName":"p"}]},{"val":[{"type":"text","content":"Crown PropTech Acquisitions Sponsor funding under the previously announced Note Purchase Agreement with Mkango Rare Earths Limited increased by an additional US$250,000 upon the confidential submission, bringing total sponsor investment to US$750,000 through issuances of convertible promissory notes, which will convert into shares of Mkango Rare Earths Limited immediately prior to the closing of the business combination.","length":424,"tagName":"p"}]},{"val":[{"type":"text","content":"Immediately prior to the confidential submission, the Business Combination Agreement was am...