Giyani Announces Grant of Options
June 17 2022 - 3:50PM
Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8)
("
Giyani" or the "
Company"),
developer of the K.Hill battery grade manganese project in
Botswana, announces granting of stock options (each an
“
Option”) under the Company’s new Stock Option
Plan approved by its shareholders at the Company’s annual general
and special meeting (the “
Meeting”) held
yesterday. Furthermore, following the Meeting the annual grant of
stock options has been made to the five non-executive directors of
the Company following their election to the Board.
The Company has granted an aggregate of
1,000,000 Options to directors and an officer of the Company
(“Optionee(s)”) in accordance with the Company's
new Stock Option Plan. Each Option is exercisable into one common
share (a "Share") of the Company at a price of
CAD0.36 per Share for a period of five years from the date of
grant, being today. Vesting provisions are as follows:
- 750,000 Options
shall fully vest on June 17, 2022; and
- 250,000 Options
shall vest in three equal installments with the provision that the
Optionee remains engaged by the Company at the vesting date: 1/3
shall vest on July 2, 2022; 1/3 shall vest on July 2, 2023; and 1/3
shall vest on July 2, 2024.
About GiyaniGiyani is a mineral
resource company focused on becoming one of Africa’s first
low-carbon producers of high-purity manganese sulphate precursor
materials directly from manganese oxide ore, 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
Prospects”) through its wholly-owned Botswana subsidiary
Menzi Battery Metals (Pty) Limited. The Company’s Kanye Basin
Prospects consist of 10 prospecting licences and include the past
producing Kgwakgwe Hill mine and project, referred to as the K.Hill
Battery Manganese Project, the Otse manganese prospect and the
Lobatse manganese prospect, both of which have seen historical
mining activities.
The Company is currently undertaking a
feasibility study on the K.Hill Battery Manganese Project,
following an updated preliminary assessment report announced on
April 12, 2021, with a post-tax NPV of USD332 million and post-tax
IRR of 80%, based on a development plan to produce around 891,000
tonnes of HPMSM over a 10 year project life. An updated 43-101
technical report on the K.Hill Battery Manganese Project is
available on www.sedar.com and on the Company’s website at
www.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
George DonneVP
Business Development+44 7866 591 897gdonne@giyanimetals.com
Judith
WebsterCorporate Secretary +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.
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