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TORONTO, Nov. 9, 2021 /CNW/ - Giyani Metals Corp. (TSXV: EMM) (GR: A2DUU8) ("Giyani" or the "Corporation") is pleased to announce that it has entered into an agreement with 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 Corporation, at a price of $0.44 per Unit for total gross proceeds to the Corporation 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 $0.60 per Common Share for a period of 24 months after the closing of the Offering.
In addition, the Corporation has granted the Underwriters an option (the "Over-Allotment Option") to purchase up to an additional 15% of the Units of the Offering on the same terms exercisable at any time up to 30 days following the closing of the Offering, for market stabilization purposes and to cover over-allotments, if any.
The net proceeds of the Offering shall be used for the advancement of the Company's K.Hill Project, working capital and general corporate purposes.
Closing of the...
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