OAKVILLE, ON, Jan. 16, 2012 /CNW/ - Giyani Gold Corp. (TSXV: WDG) (the
"Company") announced today that it has successfully closed its
previously announced private placement (the "Unit Private Placement")
of units (the "Units") for aggregate gross proceeds of $2,473,550. Each
of the 2,150,913 Units issued was issued at a price of $1.15 and was
offered on the same terms and conditions as previously disclosed by the
Company on December 13, 2011 with each whole warrant exercisable by the
holder thereof into one Common Share at a price of $1.40 per Common
Share up to and including July 16, 2013.
In connection with the Unit Private Placement, the Company has paid
finder's fees of approximately $52,613 from current cash
resources. This amount reflects an increase of approximately $24,150
from the finder's fee previously announced by the Company on January
12, 2012. In connection with the December 30, 2011 closing of a
previously announced private placement of Common Shares issued on a
flow-through basis pursuant to the Income Tax Act (Canada), the Company has paid additional finder's fees of $7,245 from
The Company has received final acceptance from the TSX Venture Exchange
of the securities being issued pursuant to the Unit Private Placement.
Such securities will be issued in reliance upon exemptions from the
prospectus and registration requirements of applicable Canadian
securities legislation, and will be subject to a hold period until May
All amounts are in Canadian dollars
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this news
On behalf of the Board of
Giyani Gold Corp.
SOURCE GIYANI GOLD CORP.
For further information:
Giyani Gold Corp.