TORONTO, May 27, 2024 (GLOBE NEWSWIRE) -- Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8) ("Giyani" or the "Company"), developer of the K.Hill battery-grade manganese project in Botswana ("K.Hill" or “the Project”), announces changes to its board of directors (the “Board”) as part of the Company’s transition to becoming a manganese battery metals producer. Jonathan Henry, Michael Jones, John Petersen and Nicola Spooner have retired from the board, effective as of May 24, 2024.
Mark Burnett will join the board as interim chair, with the remaining directors, President and CEO Danny Keating, Alex Azpitarte, Thuso Dikgaka and Stephanie Hart. The Board has commenced the process to identify new directors with specific expertise in EV battery product marketing, project financing and capital markets experience, with a view to completing the process prior to the next Annual General Meeting (“AGM”) when Mr. Burnett will step down as interim chair.
Mark Burnett is the Director of Mining Investments at RAB Capital, a leading mining specialist investor in London, with over 12 years investing and corporate finance experience in Africa and North America. He is also a Non-Executive Director of Golden Metal Resources (GMET:LN), focused on developing critical mineral assets in Nevada, USA. Mark holds an MPhil from University of Oxford and has served with the British Armed Forces.
During their tenure, Mr. Henry, Mr. Jones, Mr. Petersen and Ms. Spooner have overseen a number of key milestones at Giyani including the successful receipt of the Environmental Authorisation in Botswana, the submission of the K.Hill mining licence application, the development of a bespoke hydrometallurgical process to produce high purity manganese, and the recent securing of US$26 million in funding, positioning the Company to be a leading international developer of battery grade manganese.
The streamlined Board will continue to focus on overseeing the execution of the Company’s strategy, notably the construction and commissioning of the Demonstration Plant in South Africa.
Mark Burnett, Interim-Chair of the Company, commented: “I look forward to working with Giyani’s directors and supporting Danny and the management team in their delivery of the Demonstration Plant. I also look forward to working with the Board to introduce additional directors that will support Giyani’s strategy to become a dominant producer of battery grade manganese. I believe this company can be a significant contributor to the energy transition.”
Danny Keating, President and CEO of the Company, commented: “On behalf of our shareholders, stakeholders and the management team, I would like to thank Jonathan, John, Nicola and Mike for their many years of service to the Company. Their efforts and commitment to the Company have been instrumental in each stage of Giyani’s growth. I look forward to working with the new Board as we execute on the Demonstration Plant construction.”
Jonathan Henry, commented: “As Giyani embarks on the next chapter in its strategy to be a leading global producer of battery grade manganese, myself and my fellow directors are encouraged that we have built the foundations of a business that can thrive as the continued electrification of the car industry accelerates and demand for battery grade manganese strengthens exponentially.”
About Giyani
Giyani is focussed on becoming the dominant western-world producer of sustainable, low carbon high purity battery grade manganese for the electric vehicle (“EV”) industry. The Company has developed a proprietary hydrometallurgical process to produce high purity manganese sulphate monohydrate (“HPMSM”), a lithium-ion battery (“LIB”) cathode precursor material critical for EVs.
The Company has recently secured US$26m in financing from two strategic partners, the Industrial Development Corporation of South Africa and ARCH Sustainable Resources Fund LP, as it aims to progress the K.Hill battery-grade manganese project in Botswana to construction, after successfully building and operating the Demonstration Plant and completing a Definitive Feasibility Study by H1 2025.
Additional information and corporate documents may be found on www.sedarplus.ca and on the Company’s website at https://giyanimetals.com/.
On behalf of the Board of Directors of Giyani Metals Corp.
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 news 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 news 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.
Such statements include without limitation: the recruitment and appointment of additional directors, commissioning and operation of the Demonstration Plant and results therefrom, the completion of the Definitive Feasibility Study on the timeline stated or at all and further development of the Company’s corporate ESG strategy and commitments.
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 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 licences and permits; risks related to Giyani's business being subject to environmental laws and regulations; risks related to the Company's 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 the Company's 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 the Company's 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 continuous disclosure documents which are filed on SEDAR+ at www.sedarplus.ca.
