Maginito to acquire full ownership of rare earth magnet recycler HyProMag

Maginito Limited (90% Mkango, 10% CoTec) agreed to increase its ownership in HyProMag from 42% to 100% for £1 million in cash and £1 million in Mkango shares, plus up to £3 million in shares subject to milestones. The deal targets first UK production in 2023 and German production in 2024.

“Maginito to hold a 100% interest in HyProMag and 90% interest in HyProMag GmbH, post-acquisition and conversion of previously announced convertible loan.”maginito.com

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• maginito.comMaginito To Acquire Pioneering Rare Earth Magnet ...May 16, 2023

Summarized from public sources; check the original articles before acting on it.