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Giyani Gold Corp. (TSX: V.WDG, Stock Forum) said Friday it has struck a share exchange deal to acquire a 100% interest in the Ceyhan Project, a fully permitted crude oil storage and dry bulk cargo port development in Turkey. It is also picking up a 100% interest in Sumo Coal, a cash-flow generating coal operator in South Africa.

Trading in the stock was halted Friday ahead of the announcement. At the current level of 36 cents, Giyani has a market cap of $20.7 million, based on 57.4 million shares outstanding. The 52-week range is 90 cents and 16 cents.

“Giyani has assembled a unique package of energy assets that will mold our company into a major player into a major player in the oil services and energy sector,’’ said Duane Parnham, the Giyani Executive Chairman, who associated with a basket of other companies, including Forsys Metals Corp. (TSX: T.FSY, Stock Forum), Angus Mining Inc. (TSX: V.ANA, Stock Forum), and Temex Resources Corp. (TSX: V.TME, Stock Forum).

“The energy sector is strong and we anticipate that as the sector continues to strengthen, our shareholders will be rewarded based on the superior projects Giyani is acquiring and the team we have assembled to progress them,’’ he said.

Giyani is acquiring these assets by acquiring all of the issued and outstanding shares of both Sumo Coal Ltd., and Horizon Enerji A.S., which owns the Ceyhan Project. The transaction is expected to be structured as a reverse take, Giyani said in a press release.

In connection with the transaction, it is contemplated that a debt and/or equity financing of up to US$25 million will be undertaken by Giyani, with a minimum of US$15 million of this financing closing concurrently with the transaction, and the balance coming after the transaction is completed.

In addition, it is contemplated that the common shares of Giyani will be consolidated on a basis that has yet to be determined.

“With this transaction, Giyani and its Turkish partners are creating a Canadian mid-stream company which will have access to a very exciting high growth mid-stream oil and gas opportunity in a strategically important location at the upstream of European markets.