Giyani Gold acquires 57.7% interest in Canoe Mining Ventures
JOHANNESBURG (miningweekly.com) – Canada-based gold exploration company Giyani Gold on Monday announced that it had acquired a 57.7% interest in newly launched Canoe Mining Ventures.
Giyani acquired its interest in Canoe by means of a securities exchange agreement, in terms of which Giyani exchanged 100% of its common shares in its majority-held subsidiary 2299895 Ontario for a 57.7% shareholding in Canoe.
As a result, Canoe had acquired all of the Giyani subsidiary’s Canadian exploration permits, which includes the Abbie-Lake, the Keating and the Killins properties, as well as other minor Canadian exploration properties.
It was expected that Canoe would initially start with an exploration programme comprising geophysics and drilling on high-priority targets identified on the Keating and Killins properties, while Giyani, as a company, would focus on its Giyani gold project in South Africa and would continue its evaluation of acquisition targets in Southern Africa.
“Giyani Gold, through our large ownership position, will directly benefit from any successes Canoe has in their acquisition activities and exploration programmes,” Giyani executive chairperson Duane Parnham said.
He added that Canoe was a well-funded company with a strong shareholder base.
“I have joined Canoe’s board of directors to help grow them into a leading Canada-focused mining company which will, in turn, grow the value of Giyani’s holdings,” he said.
Meanwhile, Canoe and 2299895 Ontario, on November 21, each carried out private placements for combined aggregate gross proceeds of $1.42-million.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Rooted in the hearts of South Africans, combining technology and a quest for perfection to bring you a battery of peerless standing. Willard...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
