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Giyani Metals Announces Filing of Final Prospectus for $10 Million Bought Deal Equity Offering and Amended Technical Report
TORONTO, Nov. 30, 2021 (GLOBE NEWSWIRE) -- Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8) ("Giyani" or the "Company"), announces the filing of its final prospectus f
About this update from Giyani Metals Corp
[{"type":"text","content":" TORONTO, Nov. 30, 2021 (GLOBE NEWSWIRE) -- Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8) (\"Giyani\" or the \"Company\"), announces the filing of its final prospectus for its previously announced bought deal public offering of units to raise approximately $10 million (the \"Offering\"). The Offering is led by Cormark Securities Inc. and Beacon Securities Limited (the \"Co-Lead Underwriters\") pursuant to which the Co-Lead Underwriters have agreed to purchase 22,727,300 units (the \"Units\") from the treasury of the Company, at a price of $0.44 per Unit for total gross proceeds to Giyani of approximately $10 million. Each Unit will consist of one common share of the Company (a \"Common Share\") and one-half of one common share purchase warrant of the Company (each whole common share purchase warrant, a \"Warrant\"). Each Warrant will entitle the holder thereof to acquire one Common Share from the Company at a price of $0.60 per Common Share for a period of 24 months after the closing of the Offering. The Offering is now expected to close on or about December 3, 2021. Concurrent with the filing of the final prospectus, Giyani filed an updated and amended technical report, prepared in accordance with National Instrument 43-101 (\"NI 43-101\"), on its K.Hill manganese project in Botswana titled \"A Mineral Resource Estimate For The Kgwakgwe Hill Manganese Project, Botswana.\" The amended and restated technical report is being refiled to reflect comments received from the Staff of the Ontario Securities Commission as a part of the prospectus review process in connection with the Offering. The amended and restated technical report now includes further qualified person support for the use of proceeds, work programs and budgets of the Company disclosed in the final prospectus. About Giyani Metals Corp. Giyani is a mineral resource company focused on becoming one of Africa's first low-carbon producers of high-purity electrolytic manganese precursor materials, 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 (Pty) Limited. The Company's Kanye Basin Prospects consist of 10 prospecting licenses and include the past producing Kgwakgwe Hill...