Giyani Metals Corp. (TSXV: EMM, GR: A2DUU8)
("
Giyani" or the "
Company") is
pleased to provide a corporate update, including the appointment of
Ms. Nicola Spooner to the Giyani Board of Directors, with immediate
effect, and appointment of strategic advisors to the Company.
Highlights
- Appointment of Nicola Spooner, a highly experienced
environmental and social (“E&S”) advisory
professional, as non-executive director of the Company
- Engagement of HCF International Advisers Limited
(“HCF”) as financial advisor to assess various
funding options for the Company’s K.Hill battery grade manganese
project in Botswana (“K.Hill Battery Manganese
Project” or “K.Hill”)
- Appointment of Renmark Financial Communications
(“Renmark”) to provide corporate communication and
investor relations services
Board of Director Appointment
Ms. Spooner has 30 years’ experience in the
provision of E&S advisory services to the natural resources and
clean energy sectors. She is an experienced team leader having led
multiple Environmental and Social Impact Assessment and E&S Due
Diligence assignments across the globe. Prior to joining Giyani,
Ms. Spooner established the international environmental, social and
governance practice for Hatch Associates (UK) and is founder of her
own practice, Green Business Consulting Ltd. She is an expert in
the E&S requirements of the international lending community,
specifically Equator Principles and the IFC Standards on
Environmental and Social Sustainability, and has advised multiple
international financial institutions and mining and metals
businesses on their decarbonization and sustainability
strategies.
She joins the board immediately and will serve as
the Chair of the Corporate Governance & Nominating Committee,
replacing Mr. John Petersen who will remain on the Committee, and
will join the Technical, HSE & Sustainability Committee.
Following the appointment of Ms. Spooner, the Board will comprise
seven directors, six of whom are independent.
Appointment of HCF International
Advisers
Giyani also announces the engagement of HCF to
provide a strategic funding review to assist the Company in
analyzing various funding options for its flagship K.Hill Battery
Manganese Project. HCF is a leading independent corporate finance
advisory boutique based in London, UK with a primary focus on the
mining and metals sector. HCF provides strategic and financial
advice to companies across the project life cycle and has extensive
financing and technical experience as well as expertise in the
funding of critical minerals projects.
The Company is currently in discussions with a
number of financial institutions with respect to the funding of the
development of K.Hill and HCF will work with Giyani to review and
evaluate optimal solutions for its future project funding
requirements.
Appointment of Renmark Financial
Communications
Renmark is a full service investor relations firm
representing small, medium and large cap public companies trading
on all major North American exchanges. Under the engagement,
Renmark will be paid a monthly fee of CAD9,000, starting August 1,
2022, for an initial period of five months ending on December 31,
2022, and on a rolling monthly basis from then on. Renmark will
assist with investor relations support, such as the organization
and administration of roadshows.
Renmark does not have any direct or indirect
interest in Giyani, its securities or any right or intent to
acquire such an interest.
Jonathan Henry, Chair of the Company,
commented:
“On behalf of my fellow directors, we are delighted
that Nicola has agreed to join the Board of Giyani. As a Company,
we place ESG at the centre of our business and adding a
professional of Nicola’s calibre and experience will be a huge
benefit to the Company as we progress through development and
operational activities.”
Robin Birchall, CEO of the Company,
commented:
“Firstly, on behalf of the Giyani team, I would
like to welcome Nicola and express how incredibly pleased we are
for her to join our company. Her significant expertise in the
E&S sector will also help support the efforts of Marion Thomas,
our VP of ESG, in maintaining our focus on sustainability as we
develop the K.Hill Battery Manganese Project into a responsible,
low-carbon producer of battery materials for the electric vehicle
market.
With the impending release of our feasibility study
for K.Hill and construction of our demonstration plant, Giyani has
entered into a critical phase of its development. The appointment
of Nicola, along with the engagement of HCF and Renmark, as
strategic financial and investor relations advisors respectively,
demonstrates how we are priming the Company for the exciting months
ahead.”
About Giyani
Giyani is a mineral resource company focused on
becoming one of Africa’s first low-carbon producers of high-purity
manganese sulphate monohydrate (“HPMSM”) 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 and Lobatse manganese
prospects, both of which have seen historical mining
activities.
The Company is currently undertaking a feasibility
study on the K.Hill 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
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.
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 receipt of TSXV approval for the private placement
and completion of the private placement.
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.
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