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Mkango Resources releases Q1 2023 financial statements and awards share options and RSUs
LONDON and VANCOUVER, British Columbia, May 30, 2023 (GLOBE NEWSWIRE) -- Mkango Resources Ltd (AIM / TSX-V:MKA) (the “Company” or “Mkango”), is pleased to annou
About this update from Mkango Resources Ltd.
[{"type":"text","content":" LONDON and VANCOUVER, British Columbia, May 30, 2023 (GLOBE NEWSWIRE) -- Mkango Resources Ltd (AIM / TSX-V:MKA) (the “Company” or “Mkango”), is pleased to announce that it has released the Financial Statements and Management's Discussion and Analysis for the 3-month period ending 31 March 2023. The reports are available under the Company's profile on SEDAR (www.sedar.com) and on the Company's website (https://mkango.ca/investors/financials/). Furthermore, the Company announces that, subject to regulatory approval, Mkango has granted 3,350,000 stock options over 3,350,000 common shares of the Company (“Options”) to directors, officers, employees and consultants of the Company in accordance with the Company’s existing Option Plans. The Options have an exercise price of $0.2025 CDN per common share, being the same price at the equity placing announced on 13 February 2023. The options will vest over the next two years and are valid for a period of ten years from the date of the grant. Furthermore, certain options will, subject to certain exceptions, only vest if the Company has finalized the Mining Development Agreement (“MDA”) in Malawi and secured the mining license for the Songwe Hill rare earths project. 1,775,000 of these Options are granted to the following directors and officers in accordance with the Company’s stock Option Plans. Details of the Options being issued to Directors and PDMRs are set out below: Name of director/officer Proposed New Options Total Options held Special Vesting Conditions Derek LinfieldChairman 250,000 3,410,000 Finalised MDA and secured Mining License Alexander LemonPresident 287,500 6,547,500 Finalised MDA and secured Mining License William DawesChief Executive Officer 287,500 6,547,500 Finalised MDA and secured Mining License Shaun TreacyNon-Executive Director 175,000 1,370,000 Finalised MDA and secured Mining License Susan MuirNon-Executive Director 175,000 1,370,000 Finalised MDA and secured Mining License Philipa VarrisNon-Executive Director 400,000 400,000 No special vesting conditions Robert SewellChief Financial Officer 375,000 725,000 Finalised MDA and secured Mining License The Company has also issued 575,000 Restricted Share Units (“RSU”) to Will Dawes and Alexander Lemon (287,500 Restricted Share Units each). Each RSU is exchangeable, on vesting, for 1 common share of the Co...