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Giyani Closes Upsized Private Placement Financing Raising Gross Proceeds of Approximately $7.5 Million

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Giyani Closes Upsized Private Placement Financing Raising Gross Proceeds of Approximately $7.5 Million






Giyani Metals Corp. (TSX-V:EMM) (GR:A2DUU8) is pleased to announce that it has today closed its previously announced and upsized private placement financing of 37,375,000 units at a price of $0.20 per Unit for gross proceeds of $7,475,000, which included the exercise in full of the Agent’s option. Each Unit consists of one common share and one half of one Common Share purchase warrant. Each whole Warrant will entitle the holder to purchase one Common Share at an exercise price of $0.35 per share until June 23, 2022.


The Offering was led by Cormark Securities Inc. and included Richardson Wealth Limited and Beacon Securities Limited as agents. In connection with the Offering, Giyani also issued 1,762,500 broker warrants to the Agents that entitle the holders thereof to purchase Common Shares for 18 months following the date hereof at a purchase price per Common Share of $0.35, in addition to a cash commission of 6% in respect of the gross proceeds raised, except that the commission is reduced to 1% on president’s list subscriptions. The Company will also pay a finder’s fee to Tactex Asset Management Inc. in the amount of $55,750 cash and 334,500 broker warrants on the same terms as issued to the Agents, in connection with Tactex identifying certain subscriptions. The broker warrants issued to the Agents and Tactex are subject to a four-month-and-one-day hold period from their date of issuance.


The net proceeds of the Offering will be used for drilling, demonstration plant (pilot plant), completion of a feasibility study and other general corporate purposes.


The Offering is subject to the final acceptance of the TSXV. All securities issued pursuant to the Offering are subject to a statutory four-month-and-one-day hold period, which will end on April 24, 2021.


Robin Birchall, CEO of Giyani Metals Corp. commented:


I am delighted with the success of the offering and the demand shown by the market resulting in the increased offering size and exercise of the agents’ option. I believe we are at an inflection point in the awareness of high-purity manganese in the battery electric vehicle market and I expect increasing exposure in the coming months. Our K.Hill feasibility study remains on track to be completed in the first half of 2021 and with today’s proceeds we are completely funded through completion of that study and into 2022 for our current budget.”


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 December 24, 2020

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