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Giyani Closes Bought Deal Public Offering Raising Gross Proceeds of Approximately C$11.5 Million

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Giyani Closes Bought Deal Public Offering Raising Gross Proceeds of Approximately C$11.5 Million






Giyani Metals Corp. (TSX-V:EMM) (GR:A2DUU8) is pleased to announce that it has today closed its previously announced bought deal equity financing. A total of 16,916,500 units of the Company were issued at a price of C$0.68 per Unit for gross proceeds of C$11,503,220, which included the exercise in full of the over‐allotment option granted by the Company to the Underwriters (as defined below). Each Unit consists of one common share and one half of one  Common Share purchase warrant. Each Warrant will entitle the holder to purchase one Common Share at an exercise price of C$1.00 per Common Share until September 24, 2022.


The Offering was co-led by Cormark Securities Inc. and Beacon Securities Limited. In connection with the Offering, the Underwriters received a cash commission equal to 5.5% of the gross proceeds of the Offering. Giyani also issued an aggregate of 930,407 broker warrants to the Underwriters that entitle the holders thereof to purchase Common Shares until September 24, 2022 at a purchase price of C$0.68 per Common Share. The Units were offered by way of a short‐form prospectus dated March 19, 2021 in each of the provinces of Canada, except Québec.


The net proceeds of the Offering will be used for drilling, a demonstration plant (pilot plant), completion of a feasibility study, basic engineering and front end engineering and design, prepayments for long lead order items, additional staffing costs and other general corporate purposes, as further described in the Prospectus.


The Offering is subject to the final acceptance of the TSX Venture Exchange.


Robin Birchall, CEO of Giyani Metals Corp. commented:


“We are delighted with the outcome of the bought deal equity financing and would like to thank the Underwriters for their sterling performance for the Company. The Company is now very well capitalized to progress towards the completion of the Feasibility Study and further on towards the next steps of basic engineering, front-end engineering design and pre-payments for long lead order items.”


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.


Posted March 24, 2021

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