Crown PropTech SPAC to merge with Mkango Resources' Lancaster, creating Mkango Rare Earths

Crown PropTech Acquisitions

Each SPAC share converts to one PubCo ordinary share; SPAC warrants become exercisable for PubCo shares on same terms.
Minimum $25.75M financing required prior to close; SPAC trust cash after redemptions must be at least $5.0M.
Lock-up: 80% of insider shares subject to release over 3–24 months depending on holder type (sponsors vs. company shareholders).
Closing conditions include SPAC shareholder approval, TSX Venture Exchange approval, and no government order blocking the deal.
Outside date for closing is March 11, 2026; agreement may be terminated earlier under specified conditions.

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