Not for distribution to U.S. newswire services or for dissemination in the United States
OAKVILLE, Ontario, Dec. 09, 2019 (GLOBE NEWSWIRE) -- Giyani Metals Corp. (EMM.V) (FRANKFURT:KT9) (WKN:A2DUU8) (“Giyani” or the “Company”) announces the completion of the reclamation work tendering process by selecting Lazenby Holdings (Pty) Ltd. (“Lazenby”), a reputable, Botswana based minerals processing services company. Lazenby has been selected to undertake the environmental cleanup work at the K.Hill and Otse manganese deposits in Botswana in accordance with the Environmental Management Plans (EMPs) which were approved by the Department of Environmental Affairs (DEA) in Botswana in late July 2019.
The tendering process began in August 2019 with five service providers, initially, bidding for the project. After site visits and several rounds of proposals, the Company shortlisted three competitive service providers to submit one final offer. Finally, this tendering process came to a conclusion in late November 2019 with Lazenby as the winning contractor. Giyani will now negotiate the final contract documents with Lazenby with a view to commencing the reclamation works at the two sites. In due course Giyani will update the market as to the expected commencement date of work in Botswana at the reclamation sites.
Update on financing of the reclamation projects:
The Company wishes to confirm to the market that it has been, and is continuing, its discussion with Traxys regarding the Convertible Loan Note (CLN) which is earmarked to fund the reclamation work. Negotiations with Traxys have continued while the Company has been finalizing the selection of the contractor. Traxys has been kept informed of all the discussions including the selection of Lazenby.
Robin Birchall, CEO of Giyani commented:
“We are very satisfied with the final proposal from Lazenby; they have demonstrated high levels of innovation and flexibility which enabled us to achieve our intended deliverables within the forecast budget. We look forward to working jointly with Lazenby towards final contracts and a smooth execution of this project which will add value to our shareholders and establish Giyani as a credible mineral resource developer in Botswana.”
Casper Groenewald, CEO of Lazenby commented:
“Lazenby is excited to be awarded the tender and confident that our extensive operating experience in Botswana will ensure the success of this project. Giyani is an up and coming company with a dynamic management team, and we are thrilled to be partnering with them for this project. Opportunities such as these contribute positively to not only the economy of Botswana, but its future as a whole.”
Giyani Metals Corp. is a Canadian junior explorer and developer focused on creating shareholder value by accelerating the development of its high-grade manganese project in the Kanye Basin, Botswana, Africa. Additional information and corporate documents may be found on www.sedar.com and on Giyani Metals Corp. website: http://giyanimetals.com/.
On behalf of the Board of Directors of Giyani Metals Corp.
Robin Birchall, CEO
Giyani Metals Corporation
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) 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 statements regarding the size of and completion of the private placement and the intended use of the net proceeds from the financing.
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 licenses 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.