OAKVILLE, ON, Nov. 3, 2014 /CNW/ - Giyani Gold Corp. (TSXV: WDG, JSE: GIY) ("Giyani") announces that further to its news release dated September 19, 2014, Giyani and the Shareholders of Horizon Enerji A.S.("Horizon") and Sumo Coal (Pty) Ltd.("Sumo") have amended a binding letter of intent agreement (the "Amended Agreement") to expire on December 31, 2014, with the parties working towards executing a definitive agreement on or before this date.
The Amended Agreement outlines the general terms and conditions of a proposed transaction pursuant to which Giyani would acquire all the issued and outstanding securities of Horizon and Sumo by means of a business combination or other form of transaction. Giyani continues to work on concluding a transaction with Sumo on an exclusive basis. To facilitate funding options, including vendor-backed financing, Giyani is working with Horizon on a non-exclusive basis.
Neither the TSX Venture Exchange Inc. 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 release.
On behalf of the Board of Directors of Giyani Gold Corp.
(signed) "Duane Parnham"
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: Investor Contact: Luke Vigeant, Head of Communications, Giyani Gold Corp., Tel: 1.905.844.1456 X237, Email: [email protected]