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PureGold Gold Reports Third Quarter 2021 Financial and Operating Results

VANCOUVER, British Columbia, Nov. 12, 2021 (GLOBE NEWSWIRE) — Pure Gold Mining Inc. (TSX-V:PGM, LSE:PUR) (“PureGold” or the “Company”), reports…

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VANCOUVER, British Columbia, Nov. 12, 2021 (GLOBE NEWSWIRE) — Pure Gold Mining Inc. (TSX-V:PGM, LSE:PUR) (“PureGold” or the “Company”), reports its third quarter 2021 summary financial and operating results. The Company’s unaudited condensed interim financial statements and related management’s discussion and analysis for the three and nine months ended September 30, 2021, will be available for download on SEDAR and on the Company’s website. All amounts are expressed in Canadian dollars (“$”), unless otherwise noted).

A summary of the highlights for the three months ended September 30, 2021, and subsequent period to date for the Company and its 100% owned PureGold Mine Project (“PureGold Mine” or the “Project”) are as follows:

  • Declared commercial production on August 1, 2021;
  • Announced on October 27, 2021, that Maryse Bélanger, director, and experienced mine operator and builder, has agreed to step into the role of Mine General Manager at the PureGold Mine, following retirement by the incumbent. In this role, Ms. Bélanger will oversee all aspects of the day-to-day operations of the PureGold Mine;1
  • Average daily throughput of 685 tonnes per day (“tpd”) at the PureGold Mine for the quarter, a 35% increase compared to the second quarter driven by increased stope access and mill upgrades;
  • Gold production of 9,260 ounces, a 54% increase compared to the second quarter driven by higher grades and increased tonnage;
  • Average mill head grade of 4.8 g/t Au, a 15% increase on the second quarter;
  • Completion of mill upgrades to increase processing capacity, 1,000 tpd achieved for a number of days;
  • Continued progress on permit amendments to increase annual ore production limits from 292,000 tonnes (800 tpd) to 360,000 tonnes (1,000 tpd);
  • Announced quarterly results from drilling used to support near-term mine production from both the Main and East Ramp areas, with highlights as follows:2
    • 55.4 g/t gold over 5.0 metres from drill hole PGP-00072; including
      83.2 g/t gold over 2.0 metres; and including
      50.3 g/t gold over 2.0 metres;
    • 14.5 g/t gold over 13.2 metres from drill hole PGP-00086; including
      116.7 g/t gold over 1.0 metre;
    • 10.1 g/t gold over 7.8 metres from drill hole PGP-00091; including
      44.2 g/t gold over 1.0 metre;
    • 18.2 g/t gold over 3.9 metres from drill hole PGP-00070; including
      30.1 g/t gold over 1.9 metres.
  • On September 28, 2021, the Company closed a bought deal offering of 21,905,200 units of the Company (“Units”) at a price of C$1.05 per Unit for gross proceeds to the Company of C$23.0 million (the “Offering”). Each Unit is comprised of one common share (each a “Common Share”) and one-half Common Share purchase warrant (each such full warrant, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share at a price of C$1.36 until March 28, 2023. 3
  •  On October 15, 2021, the Company closed a further financing on similar terms to the September 28, 2021 financing, when it issued a total of 3,307,619 Units of the Company to a subsidiary of AngloGold Ashanti International Exploration Limited (“AngloGold”) at a price of C$1.05 per Unit, for aggregate gross proceeds of approximately C$3.5 million. This private placement financing brought AngloGold’s then ownership percentage in the Company to 14.96% of the issued and then outstanding common shares on a non-diluted basis. Each Unit consists of one Common Share of the Company and one-half of one common share purchase warrant (each whole common share purchase warrant, an “AngloGold Warrant”). Each AngloGold Warrant is transferrable and entitles the holder to acquire one Common Share of the Company until April 15, 2023, at a price of C$1.36.4

In the third quarter, the Company approved an increase from two to four rigs for its ongoing underground and surface drill program with the goal of further delineation and growth of our near-term mine plan. Looking ahead, the Company is targeting a production rate of approximately 600-700 tpd at an average head grade of 5.5-6.5 g/t Au for the fourth quarter of 2021 and expects to continue ramping up both throughput and mill head grade toward the mine’s full capacity by the end of Q1 2022. The Company expects to sustain 1,000 tpd by mid-2022.

Financial Results

  • Mine operating loss of $5.9 million for the three and nine months ended September 30, 2021;5;
  • Revenues, net of refining costs of $15.9 million for the three and nine months ended September 30, 20215;
  • Net loss and comprehensive loss for the three and nine months ended September 30, 2021 totaled $13.2 million and $17.1 million respectively;
  • Basic and diluted loss per share for the three and nine months ended September 30, 2021 of $0.03 and $0.04, respectively
  • Cash balance as of September 30, 2021, of $24.3 million;
  • Total loans and borrowings as of September 30, 2021, of $122.7 million; and
  • Gold Stream derivative liability as of September 30, 2021 of $44.1 million.

Operational and Financial Details

    For the two
months
since start
of
commercial
production

For the three
months ended
September 30,
2021
6

Operating data      
Ore mined Tonnes 39,460 61,534  
Waste mined Tonnes 101,825 143,225  
Total mined Tonnes 141,285 204,759  
       
Ore milled Tonnes 41,242 63,028  
Average head grade Grams per tonne gold 4.6 4.8  
Recovery % 93.8 94.5  
       
Gold produced Ounces 5,700 9,260  
Gold sold Ounces 7,042 8,382  
       
       
Financial data (millions)      
Revenue     $15.9  
Mine operating loss     $(5.9 )
Net loss     $(13.2 )
EBITDA     $(4.7 )
         

$ amounts in
millions, except
per share
amounts
  For the three
months
ended
September
30, 2021
  For the three
months ended
September 30,
2020
7
  For the nine
months ended
September 30,
2021
  For the nine
months ended
September 30,
2020
Mine operating loss $ 5.9 $ $ 5.9 $
Corporate administrative costs   1.4   2.0   5.0   5.0
Interest and financing costs   2.4   0.1   2.5   0.2
Foreign exchange loss (gain)   4.9   (1.5)   2.1   (2.9)
Loss (gain) on fair value of derivative liabilities   (1.6)   6.4   0.0   6.8
Net loss before income taxes   13.2   9.7   19.1   11.6
Deferred income tax recovery       (2.1)   0.9
Net loss and comprehensive loss for the period $ 13.2 $ 9.7 $ 17.1 $ 10.8
Basic and diluted loss per common share $ 0.03 $ 0.02 $ 0.04 $ 0.03

Additional information regarding the Company’s financial results and activities underway at the Company’s PureGold Mine is available in the Company’s Q3 2021 Financial Statements and accompanying management’s discussion and analysis for the three and nine months ended September 30, 2021.

Management Change
The Company wishes to announce that Mr. Ken Donner, VP Operations has indicated he will retire from the Company effective as of the date of this release. Maryse Bélanger, in her role as Mine General Manager, will be responsible for operational leadership at the PureGold Mine.

Management and the Board of directors wish to thank Ken for his many years of service and want to acknowledge his key role in the successful build of the PureGold Mine in 2020, on time and on budget. We wish Ken a happy retirement and all the best in his future endeavours.

Qualified Persons and 43-101 Disclosure
Darin Labrenz, P.Geo, PureGold’s President & CEO, is the Company’s QP for the purposes of NI 43-101 and has reviewed and validated that the scientific or technical information contained in this press release related to the PureGold Mine Technical Report, is consistent with that provided by the independent QPs responsible for preparing the PureGold Mine Technical Report and has verified the technical data disclosed in this document relating to those projects in which the Company holds an interest. Mr. Labrenz has consented to the inclusion of the Technical Information in the form and context in which it appears in this press release.

About Pure Gold Mining Inc.
PureGold is a growth company, located in the very heart of Red Lake, Canada. Our objective is pure and simple. To develop a highly-profitable long life gold mining company, becoming Canada’s next iconic gold producer. Our plan is very disciplined, very methodical and financially sound. To expand organically, and develop PureGold’s multi-million ounce high-grade gold asset incrementally, step-by-step, using a phased mining development plan to deliver maximum return.

Additional information about the Company and its activities may be found on the Company’s website at www.puregoldmining.ca and under the Company’s profile at www.sedar.com

ON BEHALF OF THE BOARD
Darin Labrenz                        
Darin Labrenz, President & CEO

Investor inquiries:
Adrian O’Brien, Director, Marketing and Communications
Tel: 604-809-6890
[email protected]

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

All statements in this press release, other than statements of historical fact, are “forward-looking information” with respect to PureGold within the meaning of applicable securities laws, including, but not limited to statements with respect to those that address proposed timing of development plans for the PureGold Mine complex, timing of expected production including timing for increased production, timing and size of exploration activities, potential for advancing the amount and timing for higher grade ore, potential for additional resources and expansion of known deposits and potential for making new discoveries and the focus of the Company in the coming months . Forward-looking information is often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, ”progress”, “continue”, “planned”, “expect”, expectations”, “expand”, “increasing”, “project”, “predict”, “potential”, “targeting”, “intends”, “believe”, “improved”, “potential”, and similar expressions, or describes a “goal”, or variation , of such words and phrases or state that certain actions, events or results “may”, “should”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licences and permits and obtaining required licences and permits, labour stability, stability in market conditions, availability of equipment, accuracy of any mineral resources, successful resolution of disputes and anticipated costs and expenditures. Many assumptions are based on factors and events that are not within the control of PureGold and there is no assurance they will prove to be correct.

Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks related to the interpretation of results at the PureGold Mine complex; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success of exploration and development activities generally; delays in permitting; possible claims against the Company; the timing of future economic studies; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, financing or in the completion of exploration as well as those factors discussed in the Annual Information Form of the Company dated March 31, 2021 in the section entitled “Risk Factors”, under PureGold’s SEDAR profile at www.sedar.com.

Although PureGold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. PureGold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.

______________
1
See press release dated October 27, 2021 available at www.puregoldmining.ca or under the Company’s Sedar profile at www.sedar.com.
2 See press release dated October 28, 2021 available at www.puregoldmining.ca or under the Company’s Sedar profile at www.sedar.com.
3 See press release dated September 28, 2021, available at www.puregoldmining.ca or under the Company’s Sedar profile at www.sedar.com.
4 See press release dated October 15, 2021, available at www.puregoldmining.ca or under the Company’s Sedar profile at www.sedar.com.
5 Commercial production was declared on August 1, 2021. Mine operating results and revenues therefore reflect only two months of operations. Gold sales prior to commercial production are netted against Mineral Property costs on the balance sheet.
6 Until the Company reaches this expected level of sustained throughput and expected grade, non-IFRS financial measures such as Cash costs per ounce and All-in sustaining costs (“AISC”) per ounce, which rely on ounces produced in their calculation, are not representative of the future mine plan and are not provided herein. The Company expects to begin to provide these numbers in Q1 of 2022.
7 Prior to commercial production on August 1, 2021, all operating results were capitalized to Mineral Property costs.

 














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Tantalex Resources Corporation Provides Exploration and Corporate Update

 

Toronto, Ontario – TheNewswire – December 3, 2021 – Tantalex Resources Corporation (CSE:TTX) (CNSX:TTX.CN) (“Tantalex” or the “Corporation”),…

 

Toronto, Ontario – TheNewswire – December 3, 2021 – Tantalex Resources Corporation (CSE:TTX) (CNSX:TTX.CN) (“Tantalex” or the “Corporation”), is pleased to provide an update on its exploration and corporate activities.

Manono Lithium Tailings Project

 

Drilling on the Manono Lithium Tailings Project (the “Tailings Project”) is now completed with a total of 9,279m of aircore drilling and 980m of Cobra drilling. Sample preparation is ongoing and being sent to the ALS laboratory in Ireland for assaying. Initial batch of 1080 samples have arrived in Ireland since mid November but results are still pending due to extended delays in customs clearance.

 

Exploration on Pegmatite Corridor

 

Tantalex would also like to confirm that road and drill pad preparation to begin drilling on the near surface pegmatite occurrences along the Corridor are completed and that drilling is expected to commence in the coming days.

 

The objective with this drill program is to test near surface pegmatites in areas of known tin and tantalum occurrences for potential lithium content.

 

As indicated in our press release of November 1st, the pegmatite corridor is downstrike from the historical Manono Kitotolo mine where AVZ Minerals have recently published a 400M ton resource report with average Li2O grades of 1,65%. (AVZ Minerals, Definitive Feasibility Study, Manono Lithium & Tin Project, April 21,2020).

 

The Manono region is set to become an important tier one supplier of lithium with AVZ Minerals recently announcing an investment of USD $240 million dollars for a 24% stake in their Manono Lithium project from CATH, a private investment entity jointly owned by Mr. Pei Zhenhua and Contemporary Amperex Technology Co. Limited (“CATL”),

  

MOU with XIMEI

 

Tantalex is also pleased to announce that it is currently in ongoing discussions with Ximei Resources Holding Ltd. (“Ximei”) to enter into a definitive agreement that will replace and supersede the memorandum of understanding (the “MOU”) previously announced on February 18, 2021. Completion of such negotiation shall be subject to XIMEI’s formal confirmation and public announcement. The definitive agreement will provide the framework for a strategic partnership between Tantalex and Ximei, whereby the parties will collaborate in conducting a feasibility study and ultimately establish a tantalum refining plant in the Manono region, Tangyanika Province, in the Democratic Republic of Congo (the “Region”) should all underlying requirements set forth in the definitive agreement be fulfilled. The refining plant will be intended to treat the tantalum concentrate produced by Tantalex and other local cooperatives in the Region with whom Tantalex has established business partnerships.

 

The Region is richly endowed with coltan and cassiterite, which is often closely associated to the numerous lithium pegmatites. Based on Tantalex’s exploration and resource definition activities on the Tailings Project and along the Pegmatite Corridor, Tantalex considers that an annual production of 50-80t of net metal is achievable on its concessions. Given the eluvial and alluvial nature of the coltan and cassiterite, semi-industrial production of tantalum and tin concentrate could potentially start as early as Q3 2022 on Tantalex’s concessions.

 

Corporate update

 

Tantalex is pleased to announce that it intends to amend its articles of incorporation to give effect to a name change of the Corporation to “Tantalex Lithium Resources Corp.”, which will allow for an accurate reflection of the nature of its lithium exploration and development objectives and short-term endeavours. The name change and the amendment of the Corporation’s articles of incorporation will be subject to the approval of the shareholders and will be a matter to be voted upon during the Corporation’s next annual general and special shareholders meeting set to occur no later than as of the 3rd week of January 2022.  

 

The company also confirms that AfriMet Resources has fully exercised their 50,000,000 warrants and, as a result, their current shareholding in Tantalex stands at 28%.

 

An additional 5,000,000 warrants have been exercised and a $100,000 convertible debenture issued in 2018 in consideration of a loan has been converted into 2,520,000 common shares of the Corporation at a per-share price of $0.05, the whole in accordance with Canadian Securities Exchange guidelines.  

 

Qualified Person

 

The scientific and technical content of this news release has been reviewed and approved by Mr. Gary Pearse MSc, P. Eng, who is a “Qualified Person” as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”).

 

Cautionary Note Regarding Forward Looking Statements

The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although TANTALEX believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, TANTALEX disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.

The Canadian Securities Exchange (CSE) has not reviewed this news release and does not accept responsibility for its adequacy or accuracy.

ON BEHALF OF THE BOARD

Eric Allard

President and Chief Executive Officer

 

For more information, please contact:  

Eric Allard

President & CEO

Email: [email protected]

Website: www.tantalex.ca

Tel.: 1-581-996-3007

 

Copyright (c) 2021 TheNewswire – All rights reserved.







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Critical Elements Closes $30 Million Bought Deal Public Offering of Units

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.MONTRÉAL, QC / ACCESSWIRE / December 3, 2021 / Critical Elements…

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

MONTRÉAL, QC / ACCESSWIRE / December 3, 2021 / Critical Elements Lithium Corporation (TSXV:CRE)(FSE:F12) (“Critical Elements” or the “Corporation“) announces that it has closed today its previously announced bought deal financing (the “Offering“). Pursuant to the Offering, Critical Elements issued 17,152,250 units of the Corporation (the “Units“) at a price of $1.75 per Unit (the “Offering Price“) for gross proceeds of $30,016,437.50. This includes 2,237,250 Units issued in connection with the exercise in full of the over-allotment option granted to the Underwriters (as defined below) under the Offering.

Each Unit consists of one common share in the capital of the Corporation (a “Common Share“) and one-half of one Common Share purchase warrant (each full warrant, a “Warrant“). Each Warrant entitles the holder thereof to acquire one Common Share at an exercise price of $2.50 for a period of 24 months following the closing of the Offering.

The Offering was completed through a syndicate of underwriters co-led by Cantor Fitzgerald Canada Corporation and Stifel Nicolaus Canada Inc. (the “Lead Underwriters“), Paradigm Capital Inc., Beacon Securities Limited and Red Cloud Securities Inc. (collectively, with the Lead Underwriters, the “Underwriters“).

As consideration for the services provided by the Underwriters in connection with the Offering, the Underwriters received: (a) a cash commission of $1,699,923.75 equal to 6% of the gross proceeds of the Offering (reduced to 3% for certain subscribers on the “President’s List“); and (b) 1,029,135 broker warrants (the “Broker Warrants“) equal to 6% of the number of Units issued under the Offering. Each Broker Warrant is exercisable to acquire one Unit of the Corporation at a price equal to the Offering Price for a period of two years after the closing of the Offering.

The vast majority of the net proceeds will be used by the Corporation to fund development of the Rose Property and also for general corporate purposes, as more fully described in the short form prospectus of the Corporation dated November 29, 2021.

The Units have been offered by way of short form prospectus in each of the provinces of Canada, pursuant to National Instrument 44-101 – Short Form Prospectus Distributions. The Units, Common Shares and Warrants have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), or any U.S. state securities laws, and 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 terms are defined in Regulation S under the U.S. Securities Act) absent registration under the U.S. Securities Act and all applicable state securities laws or compliance with the requirements of an exemption therefrom. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities to, or for the account or benefit of, persons in the United States or U.S. persons, nor will there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Critical Elements Lithium Corporation

Critical Elements aspires to become a large, responsible supplier of lithium to the flourishing electric vehicle and energy storage system industries. To this end, Critical Elements is advancing the wholly owned, high purity Rose lithium project in Quebec. Rose is the Corporation’s first lithium project to be advanced within a land portfolio of over 700 square kilometers. In 2017, the Corporation completed a feasibility study on Rose for the production of spodumene concentrate. The internal rate of return for the Project is estimated at 34.9% after tax, with a net present value estimated at C$726 million at an 8% discount rate. In the Corporation’s view, Quebec is strategically well-positioned for US and EU markets and boasts good infrastructure including a low-cost, low-carbon power grid featuring 93% hydroelectricity. The project has received approval from the Federal Minister of Environment and Climate Change on the recommendation of the Joint Assessment Committee, comprised of representatives from the Impact Assessment Agency of Canada and the Cree Nation Government; The Corporation is working to obtain similar approval under the Quebec environmental assessment process. The Corporation also has a good, formalized relationship with the Cree Nation.

For further information, please contact:

Jean-Sébastien Lavallée, P. Géo.
Chief Executive Officer
819-354-5146
[email protected]
www.cecorp.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is described in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information

This press release contains “forward-looking information” within the meaning of applicable securities laws, including statements with regard to our objectives and the strategies to achieve these objectives. Forward-looking information involves known and unknown risks and uncertainties, many of which are beyond the Corporation’s control, that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. Forward-looking information is based on management’s beliefs and assumptions and on information currently available to management. Although the forward-looking information contained in this press release is based upon what management believes are reasonable assumptions, you are cautioned against placing undue reliance on this information since actual results may vary from the forward-looking information. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained in this press release is provided as of the date of this press release, and the Corporation does not undertake to update or amend such forward-looking information whether as a result of new information, future events or otherwise, except as may be required by applicable law.

SOURCE: Critical Elements Lithium Corporation

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https://www.accesswire.com/675934/Critical-Elements-Closes-30-Million-Bought-Deal-Public-Offering-of-Units






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Giyani Closes Bought Deal Public Offering Raising Gross Proceeds of $11.5 Million

Not for distribution to U.S. newswire services or for dissemination in the United States TORONTO, Dec. 03, 2021 (GLOBE NEWSWIRE) — Giyani Metals Corp….

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

TORONTO, Dec. 03, 2021 (GLOBE NEWSWIRE) — 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.

The Offering was co-led by Cormark Securities Inc. and Beacon Securities Limited (together, the “Underwriters“). In connection with the Offering, the Underwriters received a cash commission equal to 5.5% of the gross proceeds of the Offering, other than in respect of sales of Units to certain purchasers on a president’s list, as agreed upon between the Company and the Underwriters (of which a cash commission of 2.0% of the gross proceeds realized from such sales was paid). Giyani also issued an aggregate of 1,381,241 broker warrants to the Underwriters that entitle the holders thereof to purchase Common Shares until December 3, 2023 at a purchase price of $0.44 per Common Share. The Units were qualified for distribution by way of a short‐form prospectus dated November 30, 2021 (the “Prospectus“) filed with the securities commissions in each of the provinces of Canada, except Québec.

The net proceeds of the Offering will be used for the advancement of the Company’s manganese oxide projects in Botswana, including the K.Hill Project, and for working capital and general corporate purposes, all as further described in the Prospectus.

The Offering is subject to the final acceptance of the TSX Venture Exchange.

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
[email protected]

George Donne
VP Business Development
+44 7866 591 897
[email protected]

Judith Webster
Corporate Secretary and Investor Relations
+1 416 453 8818
[email protected] 

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”, including but not limited to statements in respect of the final acceptance of the TSX Venture Exchange and the use of the net proceeds of the Offering. 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.

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 and the Prospectus, all of which are filed on SEDAR at www.sedar.com.





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