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TORONTO, Feb. 20, 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 5,200,000 stock options (each an “Option”) and 2,350,091 Restricted Share Units (“RSU“) have been granted to certain directors, officers and management of the Company and its subsidiaries in accordance with the Company’s Stock Option and Restricted Share Unit Plans.
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The grants follow a review by the Company’s board of directors of management’s performance in 2023, as well as the establishment of the 2024 performance criteria for the management team.
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Of the total Option grant, 1,500,000 Options have been granted to officers, 3,500,000 Options have been granted to management and 200,000 Options have been granted to directors of the Company’s subsidiary company in Botswana. Each Option is exercisable into one common share of the Company (each, a “Share“) at a price of $0.11 per Share for a period of five years from today’s grant date. The Options will vest one-third immediately and a further one-third on each of the first and second anniversaries of the date of the grant.
Each RSU will vest into one Share of the Company, or its cash equivalent, following the end of the vesting period. One-half of the RSUs issued today will vest on the first anniversary of today’s grant and the balance on the second anniversary, subject to the terms of the Company’s RSU Plan.
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.
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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.
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