Not for distribution to U.S. newswire services or for dissemination in the United States
OAKVILLE, Ontario, June 26, 2020 (GLOBE NEWSWIRE) -- Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8) ("Giyani" or the "Company") is pleased to announce the successful renewal of nine (9) prospecting licences in Botswana (“Renewed Prospecting Licences”).
Renewal of Licences
Giyani’s wholly owned subsidiary, Menzi Battery Metals (Pty) Ltd (“Menzi”), a company incorporated in accordance with the laws of Botswana, was granted the Renewed Prospecting Licences by the Department of Mines on June 25, 2020. The Renewed Prospecting Licences include the Company’s flagship K.Hill project and the Otse prospect. The Renewed Prospecting Licences have been granted for a term of 2 years, ending on June 30, 2022.
Pursuant to the renewal process, the Company consolidated the larger licence area it held since July 2017 to focus on the most prospective regions. Aided by results from various field programs during the past three years, the Company decided to relinquish four (4) of its previously held licences and renew 50% of the area of nine (9) licences. The renewal brings Menzi’s total licence area to 2,641km2 as detailed in the following table:
Menzi’s Current Licences
| PL Number | Licence Area (km2) | District | Expiry Date |
| PL258/2017* | 148 | South East District | December 31, 2020 |
| PL294/2016 | 479 | South East District | June 30, 2022 |
| PL297/2016 | 483 | Southern District | June 30, 2022 |
| PL298/2016 | 479 | South East District | June 30, 2022 |
| PL322/2016 | 438 | Southern District | June 30, 2022 |
| PL336/2016 | 118 | Southern District | June 30, 2022 |
| PL337/2016 | 144 | Southern District | June 30, 2022 |
| PL338/2016 | 127 | Southern District | June 30, 2022 |
| PL339/2016 | 77 | Southern District | June 30, 2022 |
| PL340/2016 | 148 | Southern District | June 30, 2022 |
* The licence covering the Lobatse prospect was not up for renewal
Robin Birchall, CEO of Giyani Metals Corp. commented:
“We are delighted by the renewal of our licences in Botswana. The K.Hill Definitive Feasibility Study is progressing well and this renewal by the Government of Botswana represents a vote of confidence in the Company and its ability to continue its expansive exploration and development program across the licences, and accelerate the development of the K.Hill feasibility study.”
Deferral of Filing of First Quarter 2020 Results
Further to the Company's news release of May 28, 2020, due to logistical challenges and delays caused by the COVID-19 pandemic, including the lockdown and border closure implemented in Botswana in connection with the pandemic, the Company is relying on exemptive relief granted by Canadian securities regulatory authorities that allows the Company to delay the filing and delivery of the Company's Interim Financial Statements for the quarter ended March 31, 2020, per sections 4.4 and 4.6(3) of National Instrument NI 51-102 ("NI 51-102"), and its Management's Discussion & Analysis for the quarter ended March 31, 2020, per sections 5.1(2) and 5.6(1) of NI 51-102, which would otherwise be required to be filed by May 30, 2020 (the "Q1 Documents").
In response to the COVID-19 pandemic, securities regulatory authorities in Canada have granted a blanket exemption allowing issuers an additional 45 days to complete their regulatory filings. Until the Company has filed the Q1 Documents, members of the Company's management and other insiders will remain subject to an Insider Trading Black Out period throughout this extension consistent with the principles of National Policy 11-207 – Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.
Since the date of the last financial statements that were filed on June 15, 2020, there has been no material changes to the Company other than what is included in this press release.
The Company expects to file the Q1 Documents no later than July 14, 2020.
About Giyani
Giyani Metals Corp. is a mineral resource company focused on the development of its K.Hill, Lobatse & Otse manganese oxide prospects in the Kanye Basin, Botswana, Africa. The Company’s flagship K.Hill project is a near-surface deposit currently going through a feasibility study to produce high-purity electrolytic manganese metal and manganese sulphate, both key cathode ingredients 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/.
About Menzi Battery Metals
Menzi Battery Metals is a wholly owned Botswana subsidiary of Giyani Metals Corp, incorporated in accordance with the laws of Botswana.
On behalf of the Board of Directors of Giyani Metals Corp.
Robin Birchall, CEO
Contact:
Giyani Metals Corporation
Robin Birchall
CEO, Director
+447711313019
rbirchall@giyanimetals.com
Thomas Horton
VP, Business Development
+447866913207
thorton@giyanimetals.com
Neither 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.
Forward Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements in this news release, other than statements of historical fact, that address events or developments that Giyani expects to occur, are "forward-looking statements". Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "does not expect", "plans", "anticipates", "does not anticipate", "believes", "intends", "estimates", "projects", "potential", "scheduled", "forecast", "budget" and similar expressions, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. Specific forward-looking statements and forward-looking information herein includes completion of receipt of TSXV approval for the private placement and completion of the private placement.
All such forward-looking statements are based on the opinions and estimates of the relevant management as of the date such statements are made and are subject to certain assumptions, important risk factors and uncertainties, many of which are beyond Giyani's ability to control or predict. Forward-looking statements are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. In the case of Giyani, these facts include their anticipated operations in future periods, planned exploration and development of its properties, and plans related to its business and other matters that may occur in the future. This information relates to analyses and other information that is based on expectations of future performance and planned work programs.
Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking information, including, without limitation: inherent exploration hazards and risks; risks related to exploration and development of natural resource properties; uncertainty in Giyani's ability to obtain funding; commodity price fluctuations; recent market events and conditions; risks related to the uncertainty of mineral resource calculations and the inclusion of inferred mineral resources in economic estimation; risks related to governmental regulations; risks related to obtaining necessary licences and permits; risks related to their business being subject to environmental laws and regulations; risks related to their mineral properties being subject to prior unregistered agreements, transfers, or claims and other defects in title; risks relating to competition from larger companies with greater financial and technical resources; risks relating to the inability to meet financial obligations under agreements to which they are a party; ability to recruit and retain qualified personnel; and risks related to their directors and officers becoming associated with other natural resource companies which may give rise to conflicts of interests. This list is not exhaustive of the factors that may affect Giyani's forward-looking information. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking information or statements.
Giyani's forward-looking information is based on the reasonable beliefs, expectations and opinions of their respective management on the date the statements are made, and Giyani does not assume any obligation to update forward looking information if circumstances or management's beliefs, expectations or opinions change, except as required by law. For the reasons set forth above, investors should not place undue reliance on forward-looking information. For a complete discussion with respect to Giyani and risks associated with forward-looking information and forward-looking statements, please refer to Giyani's financial statements and related MD&A, all of which are filed on SEDAR at www.sedar.com.
GIYANI METALS CORP.
1155 North Service Road West, Unit 11
Oakville, Ontario L6M 3E3
T: 289-291-4032
www.giyanimetals.com TSXV:EMM