TORONTO, April 12, 2021 (GLOBE NEWSWIRE) Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8) (
Giyani or the
Updated
PEA”) to its previously published PEA update in Q1 2020. The Updated PEA incorporates a 36% increase in the Inferred Mineral Resource estimate resulting in a 21% increase in after-tax NPV from US$275 million to US$332 million (at a 10% discount rate) and are driven by changes in the following parameters:
Change in final saleable product from High Purity Electrolytic Manganese Metal (“
HPEMM”) to High Purity Manganese Sulphate Monohydrate (“
HPMSM”). HPMSM requires fewer processing steps and consumes less energy compared to production of HPEMM. Based on feedback from battery manufacturers during the last year, the Company believes HPMSM is the preferred precursor material for the production of the Nickel-Cobalt-Manganese (“
Giyani Appoints New CFO and Provides Operations Update
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Giyani Appoints New CFO and Provides Operations Update
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TORONTO, March 2, 2021 /CNW/ -
G
Giyani or the
Company ) is pleased to announce that it has entered into an agreement with Cormark Securities Inc. ( Cormark ) on behalf of a syndicate of underwriters co-led by Beacon Securities Limited (together with Cormark, the Co-Lead Underwriters ) (collectively, the Underwriters ) pursuant to which the Underwriters have agreed to purchase 14,710,000 units (the Units ) from the treasury of the Company, at a price of $0.68 per Unit for total gross proceeds to the Company of approximately $10 million (the Offering ).
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 $1.00 per Common Share for a period of 18 months after the closing of the Offering.