Yahoo Finance Giyani Announces Grant of Options
Not for distribution to U.S. newswire services or for dissemination in the United States
TORONTO, June 17, 2022 (GLOBE NEWSWIRE) -- Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8) ("Giyani" or the "Company"), developer of the K.Hill battery grade manganese project in Botswana, announces granting of stock options (each an “Option”) under the Company’s new Stock Option Plan approved by its shareholders at the Company’s annual general and special meeting (the “Meeting”) held yesterday. Furthermore, following the Meeting the annual grant of stock options has been made to the five non-executive directors of the Company following their election to the Board.
The Company has granted an aggregate of 1,000,000 Options to directors and an officer of the Company (“Optionee(s)”) in accordance with the Company's new Stock Option Plan. Each Option is exercisable into one common share (a "Share") of the Company at a price of CAD0.36 per Share for a period of five years from the date of grant, being today. Vesting provisions are as follows:
750,000 Options shall fully vest on June 17, 2022; and
250,000 Options shall vest in three equal installments with the provision that the Optionee remains engaged by the Company at the vesting date: 1/3 shall vest on July 2, 2022; 1/3 shall vest on July 2, 2023; and 1/3 shall vest on July 2, 2024.
About Giyani
Giyani is a mineral resource company focused on becoming one of Africa’s first low-carbon producers of high-purity manganese sulphate precursor materials directly from manganese oxide ore, 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 Metals (Pty) Limited. The Company’s Kanye Basin Prospects consist of 10 prospecting licences and include the past producing Kgwakgwe Hill mine and project, referred to as the K.Hill Battery Manganese Project, the Otse manganese prospect and the Lobatse manganese prospect, both of which have seen historical mining activities.
The Company is currently undertaking a feasibility study on the K.Hill Battery Manganese Project, following an updated preliminary assessment report announced on April 12, 2021, with a post-tax NPV of USD332 million and post-tax IRR of 80%, based on a development plan to produce around 891,000 tonnes of HPMSM over a 10 year project life. An updated 43-101 technical report on the K.Hill Battery Manganese Project is available on www.sedar.com and on the Company’s website at www.giyanimetals.com.
On behalf of the Board of Directors of Giyani Metals Corp.
Robin Birchall, CEO
Contact:
Robin Birchall CEO, Director
+44 7711 313019
rbirchall@giyanimetals.com
George Donne
VP Business Development
+44 7866 591 897
gdonne@giyanimetals.com
Judith Webster
Corporate Secretary
+1 416 453 8818
jwebster@giyanimetals.com
Neither the TSX Venture Exchange (the "TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and accordingly, may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. persons," as such term is defined in Regulation S promulgated under the U.S. Securities Act ("U.S. Persons"), except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the Company's securities to, or for the account of benefit of, persons in the United States or U.S. Persons.
