Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8)
("
Giyani" or the "
Company")
announces today that it has entered into debt settlement agreements
(the "
Settlement Agreements") with certain Company
creditors, whereby Giyani will issue common shares of the Company
at a deemed price of $0.105 per share in full and final settlement
of the amounts owing to each such creditor (the "
Shares for
Debt Settlements").
Pursuant to the Settlement Agreements, an
aggregate of $336,070.36 in debt will be settled and a total of
3,200,667 common shares will be issued to the creditors. The common
shares issued in connection with the Shares for Debt Settlements
will represent 3.61% of the issued and outstanding common shares of
Giyani following the completion of the Shares for Debt Settlements.
Of the common shares to be issued to satisfy the Shares for Debt
Settlements, 1,214,637 shares will be issued to directors and/or
officers (or their affiliates) of the Company.
The Shares for Debt Settlements are subject to
the approval of the TSX Venture Exchange and the common shares
issued in connection therewith will be subject to a statutory
four-month hold period.
More information on Giyani is available at
www.giyanimetals.com.
Robin Birchall, CEO of Giyani commented:
“We are extremely pleased that in these
unprecedented times our creditors have been able to undertake a
Shares for Debt Settlement. This is testament to our creditors
belief in the long-term potential of Giyani, as well as its ability
to deliver.”
About Giyani
Giyani Metals Corp. is a Canadian explorer and
developer focused on the development of its K.Hill, Lobatse &
Otse manganese prospects in the Kanye Basin, Botswana, Africa. The
company’s flagship K.Hill prospect is a near-surface manganese
oxide deposit currently going through a feasibility study to
produce high-purity electrolytic manganese metal (HPEMM), a key
product needed for batteries in the expanding electric vehicle (EV)
market. Additional information and corporate documents may be found
on www.sedar.com and on Giyani Metals Corp. Website:
https://giyanimetals.com/.
On behalf of the Board of Directors of Giyani
Metals Corp.
Robin Birchall, CEO
Contact: Giyani Metals Corp. Robin Birchall CEO, Director
+447711313019 rbirchall@giyanimetals.com
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 news release.
The securities described herein have not been
registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act"), or any state securities laws,
and accordingly, may not be offered or sold to, or for the account
or benefit of, persons in the United States or "U.S. persons," as
such term is defined in Regulation S promulgated under the U.S.
Securities Act ("U.S. Persons"), except in compliance with the
registration requirements of the U.S. Securities Act and applicable
state securities requirements or pursuant to exemptions therefrom.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy any of the Company's securities to,
or for the account of benefit of, persons in the United States or
U.S. Persons.
Forward Looking Information
This press release contains "forward-looking
information" within the meaning of applicable Canadian securities
legislation. All statements in this news release, other than
statements of historical fact, that address events or developments
that Giyani expects to occur, are "forward-looking statements".
Forward-looking statements are statements that are not historical
facts and are generally, but not always, identified by the words
"expects", "does not expect", "plans", "anticipates", "does not
anticipate", "believes", "intends", "estimates", "projects",
"potential", "scheduled", "forecast", "budget" and similar
expressions, or that events or conditions "will", "would", "may",
"could", "should" or "might" occur. Specific forward-looking
statements and forward-looking information herein includes
completion of the shares for debt exchange with the Company's
creditors and TSXV approval.
All such forward-looking statements are based on
the opinions and estimates of the relevant management as of the
date such statements are made and are subject to certain
assumptions, important risk factors and uncertainties, many of
which are beyond Giyani's ability to control or predict.
Forward-looking statements are necessarily based on estimates and
assumptions that are inherently subject to known and unknown risks,
uncertainties and other factors that may cause actual results,
level of activity, performance or achievements to be materially
different from those expressed or implied by such forward-looking
statements. In the case of Giyani, these facts include their
anticipated operations in future periods, planned exploration and
development of its properties, and plans related to its business
and other matters that may occur in the future. This information
relates to analyses and other information that is based on
expectations of future performance and planned work programs.
Forward-looking information is subject to a
variety of known and unknown risks, uncertainties and other factors
which could cause actual events or results to differ from those
expressed or implied by the forward-looking information, including,
without limitation: inherent exploration hazards and risks; risks
related to exploration and development of natural resource
properties; uncertainty in Giyani's ability to obtain funding;
commodity price fluctuations; recent market events and conditions;
risks related to the uncertainty of mineral resource calculations
and the inclusion of inferred mineral resources in economic
estimation; risks related to governmental regulations; risks
related to obtaining necessary licenses and permits; risks related
to their business being subject to environmental laws and
regulations; risks related to their mineral properties being
subject to prior unregistered agreements, transfers, or claims and
other defects in title; risks relating to competition from larger
companies with greater financial and technical resources; risks
relating to the inability to meet financial obligations under
agreements to which they are a party; ability to recruit and retain
qualified personnel; and risks related to their directors and
officers becoming associated with other natural resource companies
which may give rise to conflicts of interests. This list is not
exhaustive of the factors that may affect Giyani's forward-looking
information. Should one or more of these risks and uncertainties
materialize, or should underlying assumptions prove incorrect,
actual results may vary 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 on the date the statements are made, and
Giyani does not assume any obligation to update forward looking
information if circumstances or management's beliefs, expectations
or opinions change, except as required by law. For the reasons set
forth above, investors should not place undue reliance on
forward-looking information. For a complete discussion with respect
to Giyani and risks associated with forward-looking information and
forward-looking statements, please refer to Giyani's financial
statements and related MD&A, all of which are filed on SEDAR at
www.sedar.com.
GIYANI METALS CORP.1155
North Service Road West, Unit 11Oakville, Ontario
L6M 3E3T:
289-291-4032www.giyanimetals.com TSX.V-EMM
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