TORONTO, Jan. 26, 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 that 1,500,000 stock options (each an “Option”) have been granted to non-executive directors (“NED”) of the Company in accordance with the Company's Stock Option Plan. These grants relate to Options which are typically awarded to NEDs upon their re-election at the Company’s annual meeting of shareholders (“Meeting”). However, the Company was restricted from issuing these Options following the last Meeting on September 27, 2023, as it remained in a blackout period while it worked to complete the recently announced fund raising.
All Options vest immediately, and each Option is exercisable into one common share (a "Share") of the Company at a price of $0.115 per Share for a period of five years from today’s grant date. The board of directors of the Company are in the process of reviewing 2023 management performance and putting 2024 performance criteria in place for the Company’s management team. Any share-based performance awards are expected to be announced to the market prior to the Company entering its year-end financial blackout period on February 21, 2024.
About Giyani
Giyani's mission is to become a sustainable, low-carbon producer of battery materials for the electric vehicle ("EV") industry. The Company has developed a hydrometallurgical process to produce high-purity manganese sulphate monohydrate, a lithium-ion battery cathode precursor material critical for EVs, directly from ore from its manganese oxide deposits in Botswana.
Additional information and corporate documents may be found on www.sedarplus.ca and on Giyani Metals Corp. website at https://giyanimetals.com/.
On behalf of the Board of Directors of Giyani Metals Corp.
Danny Keating, President and CEO
Contact:
Danny Keating
President & CEO
Tel: +1 289 291 7632
dkeating@giyanimetals.com
Neither the TSX Venture Exchange ("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.
