Giyani Announces Delay in Release of Year End 2019 and First Quarter 2020 Results
OAKVILLE, Ontario, April 28, 2020 (GLOBE NEWSWIRE) — Not for distribution to U.S. newswire services or for dissemination in the United StatesGiyani Metals Corp. (TSXV:EMM) (FRANKFURT:KT9) (WKN:A2DUU8) (“Giyani” or the “Company”) announces that due to logistics and delays caused by the COVID-19 pandemic, including the lockdown implemented in Botswana in connection with the pandemic, the Company is relying on the exemption provided in Ontario Instrument 51-502 – Temporary Exemption from Certain Corporate Finance Requirements (the “Ontario Instrument”) of the Ontario Securities Commission (and parallel exemptions available in other Canadian jurisdictions) to postpone the filing and delivery of the following continuous disclosure documents:the Company’s Annual Audited Financial Statements for the year ended December 31, 2019, per sections 4.2 and 4.6(3) of National Instrument 51-102 – Continuous Disclosure Obligations (“NI 51-102”), and its Management’s Discussion & Analysis for the year ended December 31, 2019, per sections 5.1(2) and 5.6(1) of NI 51-102, which would otherwise be required to be filed by April 29, 2020 (the “Year End Documents”); andthe Company’s Interim Financial Statements for the quarter ended March 31, 2020, per sections 4.4 and 4.6(3) of NI 51-102, and its Management’s Discussion & Analysis for the quarter ended March 31, 2020, per sections 5.1(2) and 5.6(1) of NI 51-102, which would otherwise be required to be filed by May 30, 2020 (the “Q1 Documents”).Under the Ontario Instrument, during the period from March 23, 2020 to June 1, 2020, a person or company required to make certain filings as described in the Ontario Instrument has an additional 45 days from the deadline otherwise applicable under Ontario securities laws to make the filing. Until the Company has filed the required financial statements and management’s discussion and analysis, members of the Company’s management and other insiders will remain subject to an Insider Trading Black Out period throughout this extension consistent with the principles of National Policy 11-207 – Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.Since the date of the last interim financial statements that were filed on November 15, 2019, the only material change to the Company is the acquisition from Malungani Resources (Pty) Ltd of all of the outstanding ordinary shares of Lexshell 837 (Pty) Ltd. as announced on December 9, 2019.The Company expects to file the Year-End Documents no later than June 12, 2020 and the Q1 Documents no later than June 30, 2020.About GiyaniGiyani Metals Corp. is a Canadian explorer and developer focused on the development of its K.Hill, Lobatse & Otse manganese projects in the Kanye Basin, Botswana, Africa. The company’s flagship K.Hill project is a near-surface manganese oxide deposit currently going through a feasibility study to produce high-purity electrolytic manganese metal (HPEMM), a key product needed for batteries in the expanding electric vehicle (EV) market. Additional information and corporate documents may be found on www.sedar.com and on Giyani Metals Corp. Website: https://giyanimetals.com/.On behalf of the Board of Directors of Giyani Metals Corp.Robin Birchall, CEOContact:
Giyani Metals Corporation
[email protected]Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.Forward Looking InformationThis 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”. 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.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 financial statements and related MD&A, all of which are filed on SEDAR at www.sedar.com.GIYANI METALS CORP.
1155 North Service Road West, Unit 11
Oakville, Ontario L6M 3E3