LONDON, ENGLAND--(Marketwired - Aug. 12, 2016) - Mr. Christopher Williams issues this press release pursuant to Part 3.1 of National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues with respect to Mkango Resources Ltd. (the "Company"). The Company's head office is: 259 Windermere Road SW, Calgary, AB, T3C 3L2.
On June 15, 2016, Mr. Williams acquired 4,257,754 common shares of the company at a price of $0.06 per common share ($255,465 in total). Mr. Williams also acquired 4,257,754 warrants entitling the holder to acquire one common share of the Company at a price of $0.12 for three years. The common shares and warrants were acquired by Mr. Williams pursuant to a placing by the Company (the "Placing") in conjunction with its admission to the AIM market ("AIM").
Immediately prior to acquisition described above (the "Placing Acquisition"), Mr. Williams had ownership of and control over 3,548,128 common shares (assuming the exercise of 887,032 common share purchase warrants), which represented approximately 5% of the Company's issued and outstanding common shares. Immediately following the Placing Acquisition, Mr. Williams had ownership of and control over 12,063,636 common shares (assuming the exercise of the warrants acquired in connection with the Placing Acquisition), representing approximately 17% of the Company's issued and outstanding common shares and an increase of 12%.
On August 9, 2016, Mr. Williams acquired 730,000 common shares of the Company over the facilities of AIM at a price of $0.07 per common share ($51,100 in total). As a result, assuming the exercise of all warrants he holds, Mr. Williams currently has ownership of and control over a total of 12,793,636 common shares, representing approximately 18% of the issued and outstanding common shares of the Company.
Mr. Williams acquired the securities that are the subject of this press release for investment purposes. Depending on market conditions and other factors, Mr. Williams may from time to time acquire and/or dispose of securities of the Company or continue to hold his current position.
An early warning report required to be filed with the applicable securities commissions in connection with the transactions will be available under the Company's profile on SEDAR at www.sedar.com and can be obtained by contacting the person below.