Giyani Awards Reclamation Work for its Manganese Deposits in Botswana to Lazenby Holdings (Pty) Ltd.

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OAKVILLE, Ontario, Dec. 09, 2019 (GLOBE NEWSWIRE) -- Giyani Metals Corp. (TSXV:EMM) (FRANKFURT:KT9) (WKN:A2DUU8) (“Giyani” or the “Company”) announces the completion of the reclamation work tendering process by selecting Lazenby Holdings (Pty) Ltd. (“Lazenby”), a reputable, Botswana based minerals processing services company. Lazenby has been selected to undertake the environmental cleanup work at the K.Hill and Otse manganese deposits in Botswana in accordance with the Environmental Management Plans (EMPs) which were approved by the Department of Environmental Affairs (DEA) in Botswana in late July 2019.

The tendering process began in August 2019 with five service providers, initially, bidding for the project. After site visits and several rounds of proposals, the Company shortlisted three competitive service providers to submit one final offer. Finally, this tendering process came to a conclusion in late November 2019 with Lazenby as the winning contractor.  Giyani will now negotiate the final contract documents with Lazenby with a view to commencing the reclamation works at the two sites. In due course Giyani will update the market as to the expected commencement date of work in Botswana at the reclamation sites.

Update on financing of the reclamation projects:

The Company wishes to confirm to the market that it has been, and is continuing, its discussion with Traxys regarding the Convertible Loan Note (CLN) which is earmarked to fund the reclamation work. Negotiations with Traxys have continued while the Company has been finalizing the selection of the contractor. Traxys has been kept informed of all the discussions including the selection of Lazenby.

Robin Birchall, CEO of Giyani commented:

“We are very satisfied with the final proposal from Lazenby; they have demonstrated high levels of innovation and flexibility which enabled us to achieve our intended deliverables within the forecast budget. We look forward to working jointly with Lazenby towards final contracts and a smooth execution of this project which will add value to our shareholders and establish Giyani as a credible mineral resource developer in Botswana.”

Casper Groenewald, CEO of Lazenby commented:

“Lazenby is excited to be awarded the tender and confident that our extensive operating experience in Botswana will ensure the success of this project. Giyani is an up and coming company with a dynamic management team, and we are thrilled to be partnering with them for this project. Opportunities such as these contribute positively to not only the economy of Botswana, but its future as a whole.”