Mkango subsidiary gets $750K convertible notes from CPTK sponsors to fund SPAC merger and Nasdaq listing

Crown PropTech Acquisitions

Lancaster (Mkango subsidiary) signs NPA for $500K BCA Note (escrowed) and $250K Form F-4 Note from CPTK sponsors.
Escrowed $500K released upon execution of definitive BCA and TSX-V approval; $250K note issued after Form F-4 filing.
Notes bear 12% interest (9% PIK, 3% cash); at merger, principal+interest convert at 2x shares of Lancaster valuation.
Merger would combine Songwe Hill rare earths project and Pulawy separation plant; HyProMag recycling excluded from deal.
Funds provide working capital for Lancaster to complete merger and achieve standalone NASDAQ listing.

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