Photo by: Reuters
JOHANNESBURG (miningweekly.com) – Triple-listed Giyani Gold has closed a fully subscribed nonbrokered $600 000 private placement.
The exploration group, which has assets in South Africa and Canada, had placed two-million units at $0.30 apiece to raise funds for general working capital purposes.
The units comprised one common share and one common share purchase warrant entitling the holder to acquire one common share of Giyani Gold at $0.45 at any time before July 11, 2016.
The placement, which remained subject to final approval by the TSX Venture exchange, would also see Giyani close the proposed transaction between it and an undisclosed international energy company.
In June, Giyani had entered into exclusive negotiations with the energy company, which owns multiple projects in attractive jurisdictions, including an operating asset in South Africa, with the period of exclusivity set to continue until the execution of a definitive agreement, or by July 30.