Business
Giyani Gold announces increase to unit private placement and announces high subscriber consent to escrow extension
OAKVILLE, ON, Jan. 12, 2012 /CNW/ - Giyani Gold Corp. (TSXV: WDG) (the "Company") is please...
About this update from Giyani Metals Corp
[{"type":"text","content":"\n\n\n\n\n\nOAKVILLE, ON, Jan. 12, 2012 /CNW/ - Giyani Gold Corp. (TSXV: WDG) (the\n \"Company\") is pleased to announce that it has increased the number of\n units (the \"Units\") being offered pursuant to the previously announced\n non-brokered private placement of Units (the \"Amended Unit Offering\")\n on December 13, 2011 to 2,150,913 Units. In connection with the Amended\n Unit Offering, the Company expects to raise gross proceeds of\n approximately $2.473 million. The Amended Unit Offering has been\n offered on the same terms and conditions as previously disclosed by the\n Company on December 13, 2011.\n\n\nThe TSX Venture Exchange (\"TSXV\") has been provided with notice of the\n Amended Unit Offering and the Company expects to obtain final\n acceptance of the Amended Unit Offering from the TSXV before closing.\n Giyani expects the closing of the Amended Unit Offering to occur on or\n about January 16, 2012.\n\n\nProceeds from the Amended Unit Offering will be used for exploration at\n the Company's properties and for general working capital purposes.\n Also, the Company will pay a finder's fee of $28,463 in cash from the\n gross proceeds of the Amended Unit Offering.\n\n\nWith respect to the acquisition of the Rock Island assets, Giyani is\n also pleased to announce it has received the consent of more than 96%\n of subscribers to extend the escrow agreement associated with the\n October 2010 announced financing.  Subscribers representing $5,790,750\n of a total $6,000,000 held in escrow for that acquisition have provided\n Giyani until December 31, 2012 to satisfy the closing conditions of the\n transaction. Giyani's management team anticipates completion of the\n acquisition of the Rock Island assets early in 2012.\n\n\nAll amounts in Canadian dollars.\n\n\nNeither the TSX Venture Exchange nor its Regulation Services Provider\n (as that term is defined in the policies of the TSX Venture Exchange)\n accepts responsibility for the adequacy or accuracy of this news\n release.\n\n\nOn behalf of the Board of\nGiyani Gold Corp.,\"Duane Parnham\"\nExecutive Chairman\n\n\nThis news release contains forward-looking statements and factual\n information that are current as of the date the news release was\n originally delivered. When used in this presentation, words such as\n \"may\", \"would\", \"could\", \"will\", \"expect...