Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8)
("
Giyani" or the "
Company")
announces that, further to its press release on April 21, 2021,
that the pricing of each of the granted stock options (each an
“
Option”) is exercisable into one common share (a
“
Share”) of the Company at a price of $53 per
Share. This value was in error and the correct exercise price is
$0.53 per Share. All other details in the press release dated April
21, 2021 below remain the same.
The Company announced on April 21, 2021 the
granting of Options under its existing Stock Option Plan. Giyani
also announced that the board of directors of the Company has
adopted a restricted share unit plan (“RSU Plan”)
and has conditionally issued restricted share units (each an
“RSU”) under the new RSU Plan.
Grant of Options
The Company has granted an aggregate of
2,062,500 Options to certain officers and consultants of the
Company in accordance with the Company's current Stock Option Plan.
Each Option is exercisable into one Share of the Company at a price
of $0.53 per Share for a period of five years from the date of
grant, being April 21, 2021. A total of 895,833 Options vest
immediately with the remaining 1,166,667 vesting over a two-year
period.
Establishment of RSU Plan and Grant of
RSUs
The RSU Plan provides
for the granting of awards of RSUs to its directors, officers,
employees and consultants, which awards will vest into a Share of
the Company following a vesting period and for no further
consideration. The aggregate number of Shares that may be issued
under the RSU Plan together with Shares that may be issued on
exercise of stock options granted under the Stock Option Plan shall
not exceed 10% of the issued and outstanding Shares from time to
time.
The Company has also
conditionally granted 188,680 RSUs to an officer of the Company.
Each RSU will vest into one Share of the Company, or cash
equivalent, following the end of the vesting period. One-half of
the RSUs issued April 21, 2021 will vest on the first anniversary
of the grant date and the balance on the second anniversary,
subject to the terms of the RSU Plan.
The RSU Plan and the
grant of RSUs remain subject to the TSX Venture Exchange approval
and subsequent shareholder approval, which is to be sought at the
Company’s annual general and special meeting of shareholders
scheduled for June 17, 2021. No RSU granted on April 21, 2021 shall
be permitted to vest into a Share until both approvals have been
obtained. If either approval is not obtained, the RSU Plan will be
terminated and the RSU grant of April 21, 2021 cancelled.
About Giyani
Giyani Metals Corp. is a mineral resource
company focused on the development of its K.Hill, Lobatse &
Otse manganese oxide projects in the Kanye Basin, Botswana, Africa.
The Company's flagship K.Hill project is a near-surface deposit
currently going through a feasibility study to produce high-purity
electrolytic manganese metal and manganese sulphate, both key
cathode ingredients 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:Robin Birchall CEO, Director+44 7711
313019rbirchall@giyanimetals.com
Judith
WebsterCorporate Secretary and Investor Relations+1 416 453 8818
jwebster@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 receipt of TSXV approval for the private placement
and completion of the private placement.
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.www.giyanimetals.com
TSXV:EMM
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