Business
Giyani Gold Corp. Secures a CAD$25 Million Equity Investment Agreement from Private Equity Investment Firm Lambert Private Equity LLC
OAKVILLE, ON , June 11, 2014 /CNW/ - Giyani Gold Corp. (TSXV: WDG, JSE: GIY, NSX: GG...
About this update from Giyani Metals Corp
[{"type":"text","content":"\n\nOAKVILLE, ON, June 11, 2014 /CNW/ - Giyani Gold Corp. (TSXV: WDG, JSE: GIY, NSX: GGC) (\"Giyani Gold\") is pleased to announce that it has entered into CAD$25 million equity subscription facility (the \"Agreement\") with Lambert Private Equity LLC (\"Lambert\"), a California-based private equity firm that selectively invests in public and private companies with long-term sustainable growth opportunities.\n\nDuane Parnham, Executive Chairman of Giyani Gold, commented, \"The funding to be provided under our agreement with Lambert ensures that we have the stability to continue evaluating growth opportunities and the financial strength to act on those that are most promising. Our relationship with Lambert will also protect and benefit our shareholders by providing dilution control and the flexibility for near-market pricing on future financings.\"\n\nIn accordance with the Agreement, Lambert will commit up to a maximum of CAD$10,000,000 over a period of three years. And, at Giyani Gold's discretion at any time over the next 5 years, Lambert's commitment amount may be increased from CAD$10,000,000 to CAD$25,000,000 with all other terms and conditions of the Agreement remaining unchanged and with no additional fees or compensation due.\n\nSubject to certain conditions, upon notice by Giyani Gold (\"Notice\"), Lambert and associates of Lambert will subscribe for, and Giyani Gold will agree to issue and sell, units (\"Units\") through a series of private placements (each, a \"Private Placement\"). The purchase price per Unit for any given Private Placement will be equal to the greater of (i) 90% of the lowest daily volume-weighted average price of the common shares of Giyani Gold (each, a \"Share\") on the TSX Venture Exchange (the \"TSXV\") during the 15 trading days following Notice, or (ii) the lowest price permitted by the policies of the TSXV.\n\nEach Unit will be comprised of one Share and one Share purchase warrant (each, a \"Warrant\"). Each Warrant will entitle the holder thereof to acquire one additional Share for a period of five years from the date of issuance of such Warrant at the lowest price permitted by the policies of the TSXV. \n\nThe number of Units to be subscribed for in each Private Placement will be determined by Giyani Gold in its sole discretion and will be set forth in the applicable Notice. To t...