Crown PropTech Acquisitions and Mkango Announce Transformative Rare Earth Merger

Crown PropTech Acquisitions (CPTK), a special purpose acquisition company, has agreed to a business combination with Lancaster Exploration Limited, anticipated to rebrand as Mkango Rare Earths Limited. This deal positions Mkango to consolidate its rare earth resources from its Songwe Hill project in Malawi and the Pulawy Rare Earth Separation Project in Poland, both considered strategic under the EU Critical Raw Materials Act. With this merger, Mkango aims to list on Nasdaq, enhancing its position as a global leader in rare earth production. The transaction underscores CPTK's commitment to bolstering sustainable and scalable rare earth supply chains globally, emphasizing both companies' focus on sustainable sources to meet the growing demand in clean energy sectors such as electric vehicles and wind turbines. Leading the legal representation, Orrick facilitated this partnership, which is poised to expand Mkango's growth trajectory and open new avenues for shareholder value.