NEW YORK – July 8, 2025 – Global law firm Greenberg Traurig, LLP represented Lancaster Exploration Ltd., the owner of the Songwe Hill Rare Earths Project in Malawi, and the Pulawy Rare Earth Separation Project in Poland, and other wholly-owned subsidiaries of Mkango Resources Ltd., a Canadian dual-listed mineral exploration and development company listed on U.K. and Canadian stock exchanges, in connection with the execution of a definitive business combination agreement with Crown PropTech Acquisitions (CPTK), a publicly-traded special purpose acquisition company. At closing, the combined company’s shares are expected to be listed on the Nasdaq Stock Market.
Songwe Hill and Pulawy are designated as strategic projects under the EU Critical Raw Materials Act, and comprise a vertically integrated, pure-play global rare earth platform, with the goal to provide a mined, refined, and separated supply of rare earth oxides to supply chains across North America, Europe, and Asia. Specifically, Songwe Hill is one of the very few rare earth projects globally to have advanced to an NI 43-101 compliant Definitive Feasibility Study stage, with a full Environmental, Social, Health Impact Assessment also completed in compliance with IFC Performance Standards. The transaction, which is expected to close in the fourth quarter of 2025, values Lancaster at an equity valuation of $400 million.
Affiliates of CPTK’s sponsor have invested $500,000 in connection with the transaction, which was funded upon execution of the business combination agreement, and an additional $250,000 will be funded upon the initial public filing of a registration statement on Form F-4 with the U.S. Securities and Exchange Commission.
The multioffice Greenberg Traurig team was led by Corporate Shareholders Alan I. Annex, Adam S. Namoury, and Barbara A. Jones.
In addition, the following Greenberg Traurig attorneys assisted in the transaction: James Maynor in the Tax Practice in Amsterdam, Graham Iversen in the Tax Practice in London, Mindy B. Leathe in the Tax Practice in Miami, Sophie Allen in the Tax Practice in London, Maciej Kacymirow in the Tax Practice in Warsaw, Kyle Jaep in the Corporate Practice in Los Angeles, Dario Ciapponi in the Corporate Practice in New York, Satoshi Kubota in the Corporate Practice in Los Angeles, Nicholas Villalta in the Tax Practice in London, Eunice J. Park in the Corporate Practice in New York, and Emma Noehrbass in the Tax Practice in London.
Link to Press Release: https://www.theglobeandmail.com/investing/markets/markets-news/ACCESS%20Newswire/33189341/mkango-and-crown-proptech-acquisitions-announce-business-combination-agreement/.