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Giyani Metals Corp. announces the filing of its final prospectus for its previously announced bought deal public offering of units to raise approximately $10 million . The Offering is led by Cormark Securities Inc. and Beacon Securities Limited pursuant to which the Co-Lead Underwriters have agreed to purchase 22,727,300 units from the treasury of the Company, at a price of $0.44 per Unit for total gross proceeds to ...

Not for distribution to U.S. newswire services or for dissemination in the United States

Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8) (" Giyani " or the " Company "), announces the filing of its final prospectus for its previously announced bought deal public offering of units to raise approximately $10 million (the " Offering ").

The Offering is led by Cormark Securities Inc. and Beacon Securities Limited (the " Co-Lead Underwriters ") pursuant to which the Co-Lead Underwriters have agreed to purchase 22,727,300 units (the " Units ") from the treasury of the Company, at a price of $0.44 per Unit for total gross proceeds to Giyani of approximately $10 million. Each Unit will consist of one common share of the Company (a " Common Share ") and one-half of one common share purchase warrant of the Company (each whole common share purchase warrant, a " Warrant "). Each Warrant will entitle the holder thereof to acquire one Common Share from the Company at a price of $0.60 per Common Share for a period of 24 months after the closing of the Offering.

The Offering is now expected to close on or about December 3, 2021.

Concurrent with the filing of the final prospectus, Giyani filed an updated and amended technical report, prepared in accordance with National Instrument 43-101 (" NI 43-101 "), on its K.Hill manganese project in Botswana titled " A Mineral Resource Estimate For The Kgwakgwe Hill Manganese Project, Botswana ." The amended and restated technical report is being refiled to reflect comments received from the Staff of the Ontario Securities Commission as a part of the prospectus review process in connection with the Offering. The amended and restated technical report now includes further qualified person support for the use of proceeds, work programs and budgets of the Company disclosed in the final prospectus.

About Giyani Metals Corp.

Giyani is a mineral resource company focused on becoming one of Africa's first low-carbon producers of high-purity electrolytic manganese precursor materials, 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 (Pty) Limited. The Company's Kanye Basin Prospects consist of 10 prospecting licenses and include the past producing Kgwakgwe Hill mine and project, referred to as the K.Hill Project, the Otse manganese prospect and the Lobatse manganese prospect, all of which have seen historical mining activities.

Additional information and corporate documents may be found on www.sedar.com and on Giyani Metals Corp. website at https://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 and Investor Relations
+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.

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 the Offering.

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 in how the world-wide economic and social impact of COVID-19 is managed; 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 Annual Information Form, all of which are filed on SEDAR at www.sedar.com .


News Provided by GlobeNewswire via QuoteMedia

Giyani Metals

Giyani Metals

Overview

Giyani Metals (TSXV:EMM) is focused on the development of its three manganese projects in the Kanye Basin of Botswana, Africa. The company’s flagship K.Hill project is a near-surface deposit currently going through a feasibility study to produce, on-site, both high-purity electrolytic manganese metal and manganese sulfate, key cathode ingredients for batteries in the expanding electric vehicle (EV) market.

CEO Robin Birchall said via telephone, “We’re going to be one of the lowest-cost, lowest-carbon footprint and lowest-CAPEX manganese producers supplying the rapidly expanding battery electric vehicle market.”

Giyani Metals’ Company Highlights

  • Manganese oxide deposit in a supportive mining investment jurisdiction
  • Robust project economics: 82 percent IRR and C$389M NPV
  • Low project CAPEX of C$155M
  • Feasibility Study due H1 2021
  • Resource upside potential at K.Hill, as well as at the two nearby projects, Otse & Lobatse
  • Well-positioned to leverage the growth in the battery electric vehicle market
  • Experienced management and board with a track record of successful project delivery

Robust Economics

The Preliminary Economic Assessment, last updated in April 2020, boasted a low CAPEX with attractive NPV and IRR. The feasibility study is expected to be completed in H1 2021. Management believes there is scope for improving on these already impressive economics when the feasibility study is released.

Near All Necessary Infrastructure

The K.Hill project site is situated on the Trans-Kalahari highway—the only sealed road that runs from the west to the east coast of Africa. The site is served by all necessary infrastructure within 10 kilometers, including sealed roads, a substation, water and a 45,000-inhabitant town.

Whilst there is optionality for the route to market in neighboring Namibia, Mozambique and South Africa, it is most likely that product will be hauled by road to Johannesburg and then railed to the Port of Durban, the largest and busiest port in sub-Saharan Africa.
giyani zimbabwe project location map

giyani project infrastructure map

A Large Land Package in Southern Botswana

Botswana is a minerally rich and diverse country. Since its independence in the 1960s, the country has developed a well-established mining industry. It is probably best known for its Debswana diamond mining operations (50/50 joint venture between De Beers and the Government of Botswana), which are some of the richest diamond mines in the world. As a result, the country’s workforce is well educated and there is little in the way of corruption. Botswana is also the only African country with an investment-grade rating, which is why it is often nicknamed the Switzerland of Africa.

The Mass Adoption of Electric Vehicles is Imminent

electric vehicle adoption chart

As the cost of manufacturing electric vehicles continues to fall, their market share is projected to increase. UK Research firm Rho Motion forecast that almost a third of new vehicles by 2030 will be electric.

According to Benchmark Mineral Intelligence, the cost to produce an NCM battery is around the US$100/kWh mark. This is the threshold where many analysts believe the EV is on par with the cost of a conventional internal combustion engine vehicle and therefore an inflection point for demand.

Manganese is a Vital Battery Component

Batteries with a Nickel Manganese Cobalt Oxide (NCM) cathode chemistry currently occupy circa 45 percent of the battery market for EVs. This is expected to increase to almost 80 percent within a decade, according to Benchmark Mineral Intelligence.

At its Battery Day on September 22, 2020, Tesla (NASDAQ:TSLA) announced that the cathode chemistry for their intermediate-range vehicles and non-industrial stationary storage units will contain one-third (33 percent) manganese. This was the first time Tesla referred to the manganese content in its battery chemistries. This is over three times the manganese contained in an NCM 811 cell, which UK research firm Benchmark Mineral Intelligence anticipates will be one of the market-leading cathode chemistries by 2030. Expectations for Tesla’s future market share are also high. Elon Musk, co-founder and CEO of Tesla, stated, “longer-term, we want to replace at least 1 percent of the total vehicle fleet on earth … which is about 20 million vehicles a year.”

battery percentage by year

Sources of high purity manganese

According to Benchmark Mineral Intelligence, 93 percent of the high purity manganese used in batteries is produced in China. The remaining comes from three producers in Japan, South Africa and Belgium. None of these facilities owns their own ore and as a result, they must transport it from multiple sources thousands of kilometers away. Giyani not only has the strategic advantage of being a non-Chinese source of manganese, it has its own ore source adjacent to the processing plant.

The Importance of a Low Carbon Footprint

It would be unthinkable for an electric car maker, especially those European and North American brands, to build an electric vehicle with a greater carbon footprint than that of its conventional internal combustion engine vehicle counterpart. Therefore, every gram of carbon used in electric vehicle production is counted. Currently, circa 40 percent of the carbon footprint of an electric vehicle is associated with the battery, the largest component by far. In order to bring this figure down, a major part will be on the sustainable sourcing of the cathode’s raw materials.

Botswana has only approximately 40 days of rainfall per year, meaning its sun index is very high, which makes it a great location for solar power. Giyani is currently investigating ways of harboring the solar energy to power its K.Hill operation.

Giyani Metals’ Board & Management

Giyani’s board and management have a strong track record of project delivery and have the experience to bring this project into production.

Robin Birchall – CEO

  • 18 years of experience in the investment banking, management and development of resource companies
  • Executive Chairman of Silver Bear Resources
  • Co-Head of Forbes & Manhattan London
  • V.P. Investment and Corporate Banking at BMO Capital Markets
  • V.P. Corporate Finance at Canaccord

Derk Hartman – President and COO

  • Has over 20 years of mining sector experience in project delivery, senior management and investment banking in both the Toronto and London markets. He has been a founder, officer, and director of several public and private companies.
  • CFO at Silver Bear Resources Plc, where he was a key member of the team that developed, built and operated the Mangazeisky Silver Project in Far East Russia.
  • Founder, CEO and director of Awalé Resources Limited and Sumin Resources Limited, gold exploration companies in Ivory Coast and Suriname, respectively, that were both listed on the TSXV.
  • Director of Hunter Bay Minerals, a TSXV listed gold exploration company.

George Donne – Vice President, Business Development

  • Mr. Donne has over 20 years of international natural resources sector experience in senior management and investment banking roles and holds a CFA Certificate in ESG Investing.
  • Began his career with JPMorgan’s Metals & Mining investment banking team in London and Johannesburg, before moving into industry and assuming senior management roles at a number of private and public natural resources companies across Africa, Latin America and the Former Soviet Union.
  • Senior Investment Professional with Greenstone Resources, a USD475 million mining-focused private equity fund.

Jonathan Henry – Non-Executive Chairmam

  • 25 years of experience in the mining company leadership and management
  • Executive Chairman of Ormonde Mining
  • President and CEO of Gabriel Resources
  • CEO of Avocet Mining

Marion Thomas – Vice President, ESG

  • 30 years of environmental and social experience across large-scale, natural resources, agriculture, and industrial sector projects.
  • Completed numerous ESIAs in compliance with international standards (World Bank, International Finance Corporation Performance Standards and Equator Principles)
  • Qualified engineering geologist by training, with an MSc in Engineering Geology from the University of Pretoria, South Africa, an MSc in Geology from the University of the Free State, South Africa and a BSc (Hons) in Geology Queen Mary College, University of London.

Eugene Lee – Chief Financial Officer

  • Over 20 years of experience in mine finance capital markets, financial reporting, risk management, internal controls and corporate governance
  • Director, Marketing at Hudbay Minerals
  • Non-Executive Director of Nevada Zinc Corp
  • CFO at Premier Royalty Inc.

Stephanie Hart – Chairman of the Board, Chair of Audit Committee

  • Ms. Hart is a Chartered Professional Accountant (“ CPA ”) with over 20 years’ senior level experience with broad financial, risk, operational and capital project roles in global mining.
  • Spent much of her career working with Vale S.A., where she was most recently Head of Finance, North Atlantic Operations and Asian Refineries in the Base Metals business.
  • Director of Treasury, Pension Assets and Risk for Vale Canada, Director of Finance and Chief Financial Officer (“ CFO ”) for the Goro Project and Operations in New Caledonia and General Foreperson in the Sudbury Smelter.
  • CFO at Willeson Metals Corp., a company exploring for gold in Manitoba, and Exiro Minerals Corp., a privately-owned exploration company.

Michael Jones – Independent Director

  • 30 years of experience in mine management, corporate finance and corporate development
  • Director at Hatch
  • Corporate Development at African Minerals
  • Head mining corporate finance at Canaccord
  • Various mining engineering roles at Gencor, DE Beers and Debswana
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Giyani Announces Update on Activities at its Manganese Projects, Botswana

Not for distribution to U.S. newswire services or for dissemination in the United States

Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8) (" Giyani " or the " Company "), developer of the K.Hill manganese oxide project (the " K.Hill Project ") in Botswana, is pleased to announce completion of its initial exploration drilling campaign at the Otse manganese oxide prospect (" Otse ") and update on exploration at the K.Hill Project.

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Not for distribution to U.S. newswire services or for dissemination in the United States

Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8) (" Giyani " or the " Company "), is pleased to announce that it has today closed its previously announced bought deal equity public offering (the " Offering "). A total of 26,136,395 units of the Company (the " Units ") were issued at a price of $0.44 per Unit for gross proceeds of approximately $11.5 million, which included the exercise in full of the over‐allotment option granted by the Company to the Underwriters (as defined below). Each Unit consists of one (1) common share (each, a " Common Share ") and one half of one (½) Common Share purchase warrant (each whole Common Share purchase warrant, a " Warrant "). Each Warrant entitles the holder to purchase one Common Share at an exercise price of $0.60 until December 3, 2023.

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Giyani Announces Update on Activities at its Manganese Projects, Botswana

Not for distribution to U.S. newswire services or for dissemination in the United States

Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8) (" Giyani " or the " Company "), developer of the K.Hill manganese oxide project (the " K.Hill Project ") in Botswana, is pleased to announce an update on its operational and commercial activities.

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Not for distribution to U.S. newswire services or for dissemination in the United States

Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8) (" Giyani " or the " Company "), developer of the K.Hill manganese oxide project (" K.Hill Project" ) in Botswana, is pleased to announce an update on its exploration program at the southern extension of its K.Hill Project (" K.Hill Extension ") and the filing of an NI 43-101 technical report for the K.Hill Project, including an updated mineral resource estimate (" MRE ").

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Giyani Announces Update on Exploration Activities at its Manganese Projects, Botswana

Not for distribution to U.S. newswire services or for dissemination in the United States

Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8) (" Giyani " or the " Company "), developer of the K.Hill manganese oxide project (" K.Hill Project" ) in Botswana, is pleased to provide an update on its exploration programs at the southern extension of its K.Hill Project (" K.Hill Extension "), the Otse manganese prospect (" Otse ") and Lobatse manganese prospect (" Lobatse ").

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