Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8)
("
Giyani" or the "
Company"),
developer of the K.Hill battery-grade manganese project in Botswana
("
K.Hill"), is pleased to announce that the TSX
Venture Exchange ("
TSXV") has conditionally
approved the US$16 million facility secured with the Industrial
Development Corporation of South Africa Limited
("
IDC").
Following agreement with IDC, the facility
documents have been amended to align with the TSXV requirements and
the Company now expects that first drawdown will occur in April
2024.
Other than the amendments set out below, the
material terms of the US$16 million amended IDC facility
("Amended IDC Facility") remain the same as set
out in the Company's news release dated November 30, 2023.
In the meantime, Giyani is progressing work
related to the Demonstration Plant construction, and the other
areas of the business following the receipt of the US$10 million of
funding from ARCH Sustainable Resources Fund LP in February (see
News Release dated February 21 2024).
Amended IDC Facility
Under the Amended IDC Facility, dated March 27,
2024, the IDC now only has the ability to elect to convert the
outstanding amount of the facility into shares (and shareholder
loans) in Thabatala Holdings Proprietary Limited
("HoldCo"), subject to the Company receiving TSXV
approval in respect thereof pursuant to an application by the
Company at the time such conversion is proposed. HoldCo is a
Botswana registered, wholly owned subsidiary of the Company.
Further, if IDC has elected to convert the outstanding amount of
the Amended IDC Facility into shares (and shareholder loans) in
HoldCo, the IDC may then seek to have such equity in HoldCo
exchanged for common shares in Giyani ("Giyani
Shares") in certain circumstances. Any such exchange of
HoldCo equity into Giyani Shares will be subject to a future
application to TSXV and approval thereof at the time such exchange
is proposed. Accordingly, as the issuance of Giyani Shares under
the Amended IDC Facility is subject to a further TSXV application
and approval thereof, the Amended IDC Facility no longer includes a
concept of a minimum share price for Giyani Shares issuable
thereunder, as no such floor price can be set at this time.
This foregoing summary is qualified in its
entirety by the full text of the Amended IDC Facility, copies of
which have been or will be filed under the Company's profile on
SEDAR+ at www.sedarplus.com.
About Giyani
Giyani's mission is to become a sustainable,
low-carbon producer of battery materials for the electric vehicle
("EV") industry. The Company has developed a
hydrometallurgical process to produce HPMSM, a lithium-ion battery
cathode precursor material critical for EVs, directly from ore from
its manganese oxide deposits in Botswana. The Company's assets
include K.Hill and the Otse and Lobatse manganese prospects.
Additional information and corporate documents may be found on
www.sedarplus.com and on Giyani Metals Corp. website at
https://giyanimetals.com/.
About the IDC
The Industrial Development Corporation is the
largest development finance institution in South Africa. The
Corporation funds viable businesses to build industrial capacity,
thus contributing to the economic growth in Southern Africa and the
continent. For more information visit www.idc.co.za.
On behalf of the Board of Directors of Giyani
Metals Corp.
Danny Keating, President and CEO
Contact:Tel: +1289-291-7632Danny Keating,
President & CEOdkeating@giyanimetals.com
Charles FitzRoy, Head of Corporate Development
& Strategycfitzroy@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 news 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 news 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.
Such statements include without limitation:
details regarding the Amended IDC Facility, drawdown of funds under
the Amended IDC Facility and the Company meeting the conditions
precedent related thereto, and receipt of TSXV approval for the
transactions or future applications contemplated in this news
release.
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 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 licences and permits; risks related
to Giyani's business being subject to environmental laws and
regulations; risks related to the Company's 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 the
Company's 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 the Company's
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 continuous
disclosure documents which are filed on SEDAR+ at
www.sedarplus.com.
Giyani Metals (TSXV:EMM)
過去 株価チャート
から 4 2024 まで 5 2024
Giyani Metals (TSXV:EMM)
過去 株価チャート
から 5 2023 まで 5 2024