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Giyani Gold Signs Letter of Intent with Crystal Capital Wealth Corporation
Giyani Gold Signs Letter of Intent with Crystal Capital Wealth Corporation Giyani ...
About this update from Giyani Metals Corp
[{"type":"text","content":"\n\n\n\nGiyani Gold Signs Letter of Intent with Crystal Capital Wealth Corporation\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nGiyani Gold Signs Letter of Intent with Crystal Capital Wealth Corporation\nCanada NewsWire\nOAKVILLE, ON, Oct. 13, 2015\n\n\n\nOAKVILLE, ON, Oct. 13, 2015 /CNW/ - Giyani Gold Corp. (TSXV: WDG) (\"Giyani\") is pleased to announce that it has entered into an indicative letter of intent agreement (the \"Agreement\") with Crystal Capital Wealth Corporation (\"Crystal\") which outlines the general terms and conditions of a proposed transaction pursuant to which Giyani would acquire all the issued and outstanding securities of Crystal by means of a Reverse Takeover and Change of Business (the \"Transaction\").\n\nUpon completion of the Transaction, Giyani will change its name and hold a 100% interest in Crystal. As consideration, it is expected that common shares in the capital of Giyani will be issued to the shareholders of Crystal.\n\nThe Transaction and the terms outlined in the Agreement are subject to a number of conditions, including the parties executing a binding definitive agreement with respect to the Transaction, completion of due diligence, TSX Venture Exchange (the \"TSXV\") approval, and receipt of all necessary regulatory and shareholder approvals and the approval of a Sponsor under TSXV Policy 2.2, unless an exemption is available therefrom.  If all conditions are satisfied and a definitive agreement is executed, it is expected that the Transaction would close on or about January 30, 2016. There can be no assurance that the Transaction will be completed as proposed or at all.\n\nIn connection with the Transaction, it is contemplated that an equity financing of up to CAD$5M will be undertaken by Crystal, with a minimum of CAD$2M of this financing closing concurrently with the Transaction.  In addition, it is contemplated that the common shares of Giyani will be consolidated on a basis to be determined by the parties.\n\nThe Transaction is an arms length transaction and is expected to...