Giyani Announces Grant of Options
Not for distribution to U.S. newswire services or for dissemination in the United States
TORONTO, Nov. 14, 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 the grant of stock options (each an “Option”) under the Company’s Stock Option Plan.
The Company has granted an aggregate of 1,475,000 Options to directors and a consultant of the Company (“Optionee(s)”) in accordance with the Company's Stock Option Plan. Each Option is exercisable into one common share (a "Share") of the Company at a price of C$0.165 per Share for a period of five years from the date of grant, being today. Vesting provisions are as follows:
350,000 Options shall fully vest on November 14, 2022;
1,000,000 Options shall vest in two equal instalments with the provision that the Optionee remains engaged by the Company at the vesting dates: ½ shall vest on November 14, 2022; and ½ shall vest at the discretion of the Board and no later than October 1, 2023; and
125,000 Options shall vest in three equal instalments with the provision that the Optionee remains engaged by the Company at the vesting dates: 1/3 shall vest on November 14, 2022; 1/3 shall vest on October 24, 2023; and 1/3 shall vest on October 24, 2024.
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 EV 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 eight prospecting licences and include the past producing Kgwakgwe Hill mine and project, referred to as K.Hill, the Otse manganese prospect and the Lobatse manganese prospect, both of which have seen historical mining activities.
On behalf of the Board of Directors of Giyani Metals Corp.
Jonathan Henry, Executive Chair
+44 7798 801 783
VP Business Development
+44 7866 591 897
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.