OAKVILLE, Ontario, May 28, 2020 (GLOBE NEWSWIRE) -- Giyani Metals Corp. (TSXV:EMM) (FRANKFURT:KT9) (WKN:A2DUU8) ("Giyani" or the "Company") announces that, further to its news release of April 28, 2020, it intends to file its Annual Audited Financial Statements and Management's Discussion & Analysis for the year ended December 31, 2019 (the "Year-End Documents") by no later than June 12, 2020 and its Interim Financial Statements and Management's Discussion & Analysis for the quarter ended March 31, 2020 (the "Q1 Documents") by no later than June 30, 2020. The delivery and filing of the Year-End Documents and the Q1 Documents were postponed due to logistics and delays caused by the COVID-19 pandemic, including the lockdown implemented in Canada and Botswana in connection with the pandemic.

Giyani is relying on exemptive relief granted by Canadian securities regulatory authorities that allows the Company to delay the filing of the Year-End Documents, required by sections 4.2 and 4.6(3) of National Instrument 51-102 ("NI 51-102") by April 29, 2020, and the filing of the Q1 Documents, required by sections 4.4 and 4.6(3) of NI 51-102 by May 30, 2020. In response to the COVID-19 pandemic, securities regulatory authorities in Canada have granted a blanket exemption allowing issuers an additional 45 days to complete their regulatory filings.

Until the Company has filed the required Year-End Documents and Q1 Documents, 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 following material changes occurred:

  • 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 update and amendment of the technical report for the K.Hill manganese project in Botswana as announced on April 28, 2020
  • The issuance of shares for debt as announced on May 6, 2020
  • Completion of private placement financing as announced on May 25, 2020

About Giyani

Giyani Metals Corp. is a Canadian explorer and developer focused on the development of its K.Hill, Lobatse & Otse manganese prospects in the Kanye Basin, Botswana, Africa. The Company's flagship K.Hill prospect 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, CEO

Contact:

Giyani Metals Corp.
Robin Birchall
CEO, Director
+447711313019
rbirchall@giyanimetals.com

Thomas Horton
VP, Business Development
+447866913207
thorton@giyanimetals.com

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.

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 press 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 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
T: 289-291-4032
www.giyanimetals.com        TSXV:EMM