OAKVILLE, ON, March 31, 2016 /CNW/ - Giyani Gold Corp. (TSXV: WDG) ("Giyani" or the "Company") announces that further to its news releases dated October 14, 2015 and November 20, 2015, the Company and Crystal Capital Wealth Corporation ("Crystal") have terminated the indicative letter of intent agreement (the "Agreement") as it has expired. Under the terms of the Agreement, Giyani is entitled to and will pursue collecting the US$250,000 break fee. Crystal has loaned the Company CDN$35,000 which will be deducted from the break fee owing.
The Company is pursuing opportunities to enhance shareholder value. Additional announcements in this regard will be forthcoming in the near future.
Furthermore, Giyani would like to announce the resignation of Mark Frewin as a director of the Company. Duane Parnham, Executive Chairman, comments: "On behalf of the Board and myself personally having worked with Mark for many years on numerous successful ventures, we wish him the very best in all his future endeavors and thank him for all his invaluable contribution over the years".
The Company will be filing the Annual Financial Statements on or about April 29, 2016.
The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
On behalf of the Board of Directors of Giyani Gold Corp.
Duane Parnham, Executive Chairman
Forward Looking Statements
This news release contains certain statements that may be deemed "forward-looking statements". Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Giyani believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of Giyani's management on the date the statements are made. Except as required by law, Giyani undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
SOURCE Giyani Gold Corp.
For further information: Duane Parnham, Executive Chairman, Giyani Gold Corp., Tel: 1.905.844.1456, Email: [email protected]