Fasken acted as counsel to Mkango Resources Ltd. (“Mkango”), a Canadian mining company focused on the development of rare earth metals, which is listed on the TSX Venture Exchange and AIM, in relation to a £3.5 million investment by CoTec Holdings Corp. (“CoTec”). CoTec’s investment was made via a £2 million convertible loan to Mkango and a £1.5 million subscription for shares in Maginito Limited (“Maginito”), a subsidiary of Mkango.
In connection with CoTec’s investment, Mkango, Maginito and CoTec entered into a cooperation agreement to collaborate on the commercialisation of downstream rare earth technologies in the United States. A new US subsidiary, to be jointly owned by Maginito and CoTec, is expected to be formed to develop rare earth technology opportunities in the United States.
The Fasken team was led by Jodi Katz and consisted of Al Gourley, Samuel Li and Stephen Vincelli.
- United Kingdom
- British Columbia