OAKVILLE, ON, July 4, 2013 /CNW/ – Giyani Gold Corp. (TSXV: WDG, JSE: GIY, NSX:GGC) (“Giyani Gold”) is pleased to announce that it is officially listing on the Alternative Investment Board (“AIX”) of the Namibian Stock Exchange (“NSX”), the second largest Exchange in Africa by market capitalization, under the symbol “GGC” as of 8:00am Namibian Standard Time on July 5, 2013. Giyani Gold has received the necessary permissions from, among others, the Central Bank of Namibia and the listing committee of the NSX.
Giyani Gold’s activities are currently focused on gold exploration in the Giyani Greenstone Belt in Limpopo, South Africa – an area with historic gold production at shallow depths that have not been extensively mined. While there are no active mines in the area, there are at least five past-producing mines where the company is currently conducting exploration. Giyani Gold has applied for prospecting rights over a large area within the Giyani Greenstone Belt, where 25 past-producing mines once operated, and owns stakes in various companies with prospecting rights in the area. Additional shareholder value will be generated from Giyani Gold’s Canadian exploration assets which in the near term will be transferred into a separate Canadian public entity of which Giyani Gold will hold a majority interest ownership.
The AIX Board is a new Board to the NSX to facilitate listings with a no local asset status (in terms of pension fund and insurance regulations) in Namibia.Giyani Gold is listing onto the AIX as they are a gold exploration company with no mining Exploration Prospecting Licence’s (“EPL’s”) in the country. NSX CEO Tiaan Bazuin said “the NSX has created the Alternative Investment Board for companies interested in coming to Namibia to explore business opportunities. We view listing locally as the best way to open the books and inform the market what a company is doing and how it is performing. Once a company has appropriate economic activity in Namibia, their listing could move to the Main Board or the Development Capital Board with the accompanying local asset status”.
The Namibian Vice President of Business Development of Giyani Gold, Knowledge Katti, welcomes the listing opportunity for Giyani Gold. “It creates another avenue for Namibia investors to invest in a dynamic company with potential for further shareholder value. The shareholder value that will be created through the listing on the NSX will contribute in many ways to local economic development, creation of jobs and further investments in the Namibian economy,” he stated.
Having a successful history of creating numerous publically traded mining companies, Duane Parnham, Executive Chairman of Giyani Gold, brings his core group of managerial, technical and financial experts to his latest endeavour of advancing Giyani Gold into a mid-tier African gold producer. Mr Parnham adds “I have created resource projects in Namibia over the past 14 years and have enjoyed tremendous success in contributing value to the Namibian economy and for all stakeholders.”
About Giyani Gold
Giyani Gold is managed by a team with decades of resource exploration experience and in creating value for stakeholders. The team has a long history of successfully partnering with governments to assemble substantial exploration opportunities. Giyani Gold has developed strong financial relationships and communications networks throughout the global capital markets. In addition, the founders of Giyani Gold have a loyal shareholder base that has followed them from previous ventures.
The Giyani Gold team is dedicated to benefiting the people and stakeholders of the communities in which it operates. All exploration and mining activities conducted by Giyani Gold include initiatives to provide sustainable benefits for local communities.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
On behalf of the Board of Giyani Gold Corp.
Forward Looking Statements
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release or other future plans, objectives or expectations of Giyani Gold Corp. are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Giyani Gold’s plans or expectations include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by Giyani Gold with securities regulators. Giyani Gold expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.