Giyani Metals, developer of the K.Hill battery-grade manganese project in Botswana, announced a non-brokered private placement of up to 50,000,000 units at a price of $0.06 per Unit to raise aggregate gross proceeds of up to C$3 million.
Each Unit will be comprised of one common share in the capital of the company and one-half of one Common Share purchase warrant of the company. Each Warrant shall entitle the holder thereof to acquire one Common Share at a price of $0.085 per Common Share for a period of36 months from the closing date of the Offering.
Highlights
- Non-brokered private placement of up to 50,000,000 Units at a price of $0.06 per Unit for aggregate gross proceeds of up to C$3 million.
- The proceeds of the Offering will continue to support Company workstreams, activities and general working capital.
- The Issue Price represents a 20% discount to the most recent closing price of the Common Shares.
- The Company is in ongoing discussions with offtakers for battery-grade manganese products, including high-purity manganese oxide (HPMO) and high-purity manganese sulphate monohydrate (HPMSM).
- The Demo Plant is currently on track to produce HPMSM in Q3 2025.
- The Definitive Feasibility Study remains on track for completion in Q1 2026.
- Members of the board and senior management are expected to participate in the Offering.
Charles FitzRoy, CEO of the Company, commented: “We are pleased with the support shown thus far by new and existing investors, which reflects confidence in our long-term strategy to deliver sustainable, low-carbon high-purity battery grade manganese products for the EV and ESS industries. This financing will provide us with the flexibility and resources needed to capitalise on upcoming growth opportunities, including producing HPMSM from the Demo Plant this quarter, delivering the Definitive Feasibility Study next year, and positioning the Company to progress towards Project Financing.”
