Business
Giyani Metals to Issue Shares for Debt
OAKVILLE, Ontario, May 06, 2020 (GLOBE NEWSWIRE) -- Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8) ("Giyani" or the "Company") announces today that it has entered in
About this update from Giyani Metals Corp
[{"type":"text","content":" OAKVILLE, Ontario, May 06, 2020 (GLOBE NEWSWIRE) -- Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8) (\"Giyani\" or the \"Company\") announces today that it has entered into debt settlement agreements (the \"Settlement Agreements\") with certain Company creditors, whereby Giyani will issue common shares of the Company at a deemed price of $0.105 per share in full and final settlement of the amounts owing to each such creditor (the \"Shares for Debt Settlements\"). Pursuant to the Settlement Agreements, an aggregate of $336,070.36 in debt will be settled and a total of 3,200,667 common shares will be issued to the creditors. The common shares issued in connection with the Shares for Debt Settlements will represent 3.61% of the issued and outstanding common shares of Giyani following the completion of the Shares for Debt Settlements. Of the common shares to be issued to satisfy the Shares for Debt Settlements, 1,214,637 shares will be issued to directors and/or officers (or their affiliates) of the Company. The Shares for Debt Settlements are subject to the approval of the TSX Venture Exchange and the common shares issued in connection therewith will be subject to a statutory four-month hold period. More information on Giyani is available at www.giyanimetals.com. Robin Birchall, CEO of Giyani commented: “We are extremely pleased that in these unprecedented times our creditors have been able to undertake a Shares for Debt Settlement. This is testament to our creditors belief in the long-term potential of Giyani, as well as its ability to deliver.” About Giyani Giyani Metals Corp. is a Canadian explorer and developer focused on the development of its K.Hill, Lobatse & Otse manganese prospects in the Kanye Basin, Botswana, Africa. The company’s flagship K.Hill prospect is a near-surface manganese oxide deposit currently going through a feasibility study to produce high-purity electrolytic manganese metal (HPEMM), a key product needed for batteries in the expanding electric vehicle (EV) market. Additional information and corporate documents may be found on www.sedar.com and on Giyani Metals Corp. Website: https://giyanimetals.com/. On behalf of the Board of Directors of Giyani Metals Corp. Robin Birchall, CEO Contact: Giyani Metals Corp. Robin Birchall CEO, Director +447711313019 [email protected] Neither the TSX Venture Exchan...