Giyani Announces Filing of Final Prospectus for $10 Million Bought Deal Equity Offering and Amended Technical Report
Not for distribution to U.S. newswire services or for dissemination in the United States
Giyani Announces Filing of Final Prospectus for $10 Million Bought Deal
Equity Offering and Amended Technical Report
TORONTO, Ontario, November 30, 2021 -- Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8) ("Giyani"
or the "Company"), announces the filing of its final prospectus for its previously announced bought deal
public offering of units to raise approximately $10 million (the "Offering").
The Offering is led by Cormark Securities Inc. and Beacon Securities Limited (the "Co-Lead
Underwriters") pursuant to which the Co-Lead Underwriters have agreed to purchase 22,727,300 units
(the "Units") from the treasury of the Company, at a price of $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
"Common Share") and one-half of one common share purchase warrant of the Company (each whole
common share purchase warrant, a "Warrant"). Each Warrant will entitle the holder thereof to acquire
one Common Share from the Company at a price of $0.60 per Common Share for a period of 24 months
after the closing of the Offering.
The Offering is now expected to close on or about 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 ("NI 43-101"), on its K.Hill manganese project
in Botswana titled "A Mineral Resource Estimate For The Kgwakgwe Hill Manganese Project,
Botswana." The amended and restated technical report is being refiled to reflect comments received
from the Staff of the Ontario Securities Commission as a part of the prospectus review process in
connection with the Offering. The amended and restated technical report now includes further qualified
person support for the use of proceeds, work programs and budgets of the Company disclosed in the
final prospectus.
About Giyani Metals Corp.
Giyani is a mineral resource company focused on becoming one of Africa's first 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 Prospects"), through its wholly-owned Botswana
subsidiary Menzi Battery (Pty) Limited. The Company's Kanye Basin Prospects consist of 10
prospecting licenses and include the past producing Kgwakgwe Hill mine and project, referred to as the
K.Hill Project, the Otse manganese prospect and the Lobatse manganese prospect, all of which have
seen historical mining activities.
Additional information and corporate documents may be found on www.sedar.com and on Giyani Metals
Corp. website at https://giyanimetals.com/
On behalf of the Board of Directors of Giyani Metals Corp.
Robin Birchall, CEO
Contact:
Robin Birchall CEO, Director
+44 7711 313019
George Donne
VP Business Development
+44 7866 591 897
Judith Webster
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 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 Offering.
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 in how the world-wide economic and social impact of COVID-19 is managed; 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 Annual Information Form, all of which are filed on SEDAR at www.sedar.com.