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TORONTO, Nov. 30, 2021 (GLOBE NEWSWIRE) – Giyani Metals Corp. (TSXV: EMM, GR: A2DUU8) (“Giyani“or the”Society“), announces the filing of its final prospectus for its previously announced takeover bid to raise approximately $ 10 million (the”Offer“).
The offering is managed by Cormark Securities Inc. and Beacon Securities Limited (the “Co-leader“) under which the co-lead managers have agreed to purchase 22,727,300 shares (the”Units“) from the Company’s cash, priced at $ 0.44 per unit for total gross proceeds to Giyani of approximately $ 10 million. Each unit will consist of one common share of the Company (a”Ordinary share“) and one-half of the Company’s common stock purchase warrant (each full common stock purchase warrant, a”To guarantee“). Each warrant will entitle its holder to acquire one common share of the Company at a price of $ 0.60 per common share for a period of 24 months after the closing of the offering.
The placement is now scheduled to close on or around December 3, 2021.
Concurrent with the filing of the final prospectus, Giyani filed an updated and amended technical report, prepared in accordance with National Instrument 43-101 (“Regulation 43-101“), on its K. Hill manganese project in Botswana entitled”A mineral resource estimate for the Kgwakgwe Hill manganese project in Botswana. The amended and updated technical report is re-filed to reflect comments received from staff of the Ontario Securities Commission as part of the prospectus review process in connection with the offering. The amended and updated technical report now includes an additional Qualified Person for the use of the Company’s products, work programs and budgets disclosed in the final prospectus.
About Giyani Metals Corp.
Giyani is a mineral resource company aiming to become one of Africa’s premier low-carbon producers of high purity electrolytic manganese precursor materials, used by battery manufacturers for the expanding electric vehicle market, through the advancement of its manganese assets in the Kanye Basin in south-eastern Botswana (the “Kanye Basin Outlook“), through its wholly owned Botswana subsidiary Menzi Battery (Pty) Limited. The company’s Kanye Basin outlook consists of 10 exploration licenses and includes the Kgwakgwe Hill mine and producing project, referred to as the K. Hill project, the Otse prospect manganese deposit and the Lobatse manganese prospect, all of which have had historic mining activities.
Additional information and corporate documents can be found at www.sedar.com and on the Giyani Metals Corp website. at https://giyanimetals.com/
On behalf of the Board of Directors of Giyani Metals Corp.
Robin Birchall, CEO
Robin Birchall CEO, Director
+44 7711 313019
VP Business Development
+44 7866 591 897
Corporate Secretary and Investor Relations
+1 416 453 8818
Neither the TSX Venture Exchange (the “TSXV”) nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. hurry.
The securities described in this document have not been registered under the United States Securities Act of 1933, as amended (the “US Securities Act”), or any state securities law and, by therefore, may not be offered or sold to, or on behalf of or for the benefit of, persons in the United States or “United States persons” as that term is defined in Regulation S promulgated under the US Securities Act (“US Persons ”), except in accordance with the registration requirements of the US Securities Act and applicable state securities obligations or under exemptions therefrom. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company to, or on behalf of, persons in the United States or US Persons.
This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. All statements in this press release, other than statements of historical fact, that deal with events or developments that Giyani expects to occur, are “forward-looking statements”. Forward-looking statements are statements which are not historical facts and are generally, but not always, identified by the words “expects”, “does not expect”, “anticipates”, “anticipates”, “does not expect”. not anticipate “,” believe “,” consider “,” estimate “,” projects “,” potential “,” planned “,” forecast “,” budget “and similar expressions, or that events or conditions” will “, “would”, “could”, “could”, “should” or “could” occur. The specific forward-looking statements and forward-looking information contained herein include the completion of the Offer.
All of these forward-looking statements are based on the opinions and estimates of relevant management as of the date such statements are made and are subject to certain assumptions, significant risk factors and uncertainties, many of which are beyond Giyani’s ability to control or control. provide. Forward-looking statements are necessarily based on estimates and assumptions which are inherently subject to known and unknown risks, uncertainties and other factors which may cause actual results, level of activity, performance or performance. achievements are materially different from those expressed or implied by these forward-looking statements. forward-looking statements. In Giyani’s case, these facts include their planned operations in future periods, the planned exploration and development of its properties, and plans related to its business and other matters that may arise in the future. This information relates to analyzes and other information based on future performance expectations and planned work programs.
Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by the forward-looking information, including, without being limited to: the dangers and risks inherent in exploration; risks associated with the exploration and development of natural resource properties; uncertainty about Giyani’s ability to secure funding; fluctuations in commodity prices; recent market events and conditions; risks associated with the uncertainty of mineral resource calculations and the inclusion of inferred mineral resources in the economic estimate; risks associated with managing the global economic and social impact of COVID-19; risks related to government regulations; risks associated with obtaining the necessary licenses and permits; risks associated with their business being subject to environmental laws and regulations; risks associated with their mineral properties subject to prior unregistered agreements, transfers or claims and other defects of title; risks associated with competition from large companies with more financial and technical resources; risks associated with the inability to meet financial obligations under agreements to which they are party; ability to recruit and retain qualified personnel; and the risks associated with their directors and officers associating with other natural resource companies, which may give rise to conflicts of interest. This list is not exhaustive of the factors that may affect Giyani’s forward-looking information. If one or more of these risks and uncertainties materialize, or if the underlying assumptions prove to be incorrect, actual results could differ materially from those described in the forward-looking information or statements.
Giyani’s forward-looking information is based on the reasonable beliefs, expectations and opinions of their respective management at the date the statements are made, and Giyani assumes no obligation to update forward-looking information if the circumstances or beliefs, management’s expectations or opinions change, except as required by law. For the reasons set out above, investors should not place undue reliance on forward-looking information. For a full discussion of Giyani and the risks associated with forward-looking information and forward-looking statements, please refer to Giyani’s Annual Information Form, all of which are filed on SEDAR at www.sedar.com.