TORONTO, June 16, 2025 (GLOBE NEWSWIRE) -- Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8) ("Giyani" or the "Company"), developer of the K.Hill Battery-Grade Manganese Project in Botswana ("K.Hill" or "the Project"), is pleased to announce that it received a non-binding letter of interest ("LOI") from the Export-Import Bank of the United States ("EXIM") for up to US$225 million in financing to support the construction of the Project.
Highlights:
- Following several months of engagement with EXIM, Giyani has received a non-binding LOI dated 6 June 2025 from US EXIM for up to US$225 million long-term debt with a repayment period of up to 15 years for construction of the Project.
- The potential funding from EXIM falls under the Supply Chain Resilience Initiative ("SCRI") the aim of which is to reduce US dependence on critical mineral supply chains controlled by the People's Republic of China.
- US EXIM is the official Export Credit Agency ("ECA") to the US Government.
- A key requirement to unlock the funding from EXIM is to secure offtake contracts with US companies, which is a fundamental component of Giyani's strategy.
The LOI from EXIM is not a binding commitment to provide financing; rather, it marks an initial step in the formal application process. Any potential debt financing remains contingent upon the successful completion of due diligence, agreement on final terms, and execution of definitive documentation, namely a Definitive Feasibility Study ("DFS"). Giyani has a DFS underway which is forecast to be completed in Q1 2026.
Charles FitzRoy, President and CEO of the Company, commented:
"The receipt of the LOI from EXIM marks an important milestone on Giyani's journey to securing project financing for the construction of the K.Hill Manganese Project. Giyani has held numerous discussions with EXIM which have culminated in the issuance of the LOI. Whilst this is the first step in the process of securing possible funding, this important milestone validates Giyani as a preferred strategic developer of battery-grade manganese products. We look forward to furthering our relationship with EXIM and other strategic partners as Giyani continues to diligently work towards its goals and ultimately maximize value for our stakeholders through the development of this vital critical minerals project.
ECA funding is an important part of financing critical minerals projects, as it offers the potential to secure lower cost loans than traditional debt, with longer repayment periods. These type of structures can enable groups like Giyani to maximize value for shareholders by securing more attractive annual repayments for project financing
About the Supply Chain Resilience Initiative
The SCRI is a strategic program launched in January 2025 by EXIM to enhance US economic security by reducing dependence on critical mineral supply chains controlled by the People's Republic of China. SCRI aims to strengthen US manufacturing sectors such as semiconductors, batteries, and electric vehicles, by ensuring a stable and diversified supply of critical minerals.
More information about the SCRI can be found at the following link.
Strategy Overview
About Giyani
Giyani is focused on becoming a preferred western-world producer of sustainable, low carbon high purity battery grade manganese for the EV and ESS industry. The Company has developed a proprietary hydrometallurgical process to produce battery-grade manganese (HPMSM and HPMO), a lithium-ion battery cathode precursor material critical for EVs and ESS.
Additional information and corporate documents may be found on www.sedarplus.ca and on Giyani Metals Corp. website at https://giyanimetals.com/.
About EXIM
The Export-Import Bank of the United States (EXIM) is the US Government's official export credit agency, created in 1934 to promote American jobs by financing the export of US goods and services. EXIM offers tools such as export credit insurance, loan guarantees, and direct loans to help US companies, particularly small and mid-sized businesses, compete in global markets when private sector financing is unavailable. In 2025, EXIM introduced the SCRI to enhance the security and reliability of US supply chains by supporting overseas projects that supply critical materials to American manufacturers.
On behalf of Giyani Metals Corp.
Charles FitzRoy, President and CEO
Contact:
Giyani Metals Corp. Charles FitzRoy, President & CEO Sean Thijsse, VP Corporate Development | cfitzroy@giyanimetals.com Tel: +1289-291-7632 sthijsse@giyanimetals.com |
| Tavistock, Corporate Communications Tara Vivian-Neal / Josephine Clerkin | giyani@tavistock.co.uk Tel: +44 20 7920 3150 |
Neither the TSX Venture Exchange (the "TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements in this news release, other than statements of historical fact, that address events or developments that Giyani expects to occur, are "forward-looking statements". Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "does not expect", "plans", "anticipates", "does not anticipate", "believes", "intends", "estimates", "projects", "potential", "scheduled", "forecast", "budget" and similar expressions, or that events or conditions "will", "would", "may", "could", "should" or "might" occur.
Such statements include without limitation: the ongoing operation of the Demo Plant, the completion of the DFS by Q1 2026 and the results thereof, entering into offtake agreements qualifying for EXIM financing, obtaining EXIM financing and timing thereof.
All such forward-looking statements are based on the opinions and estimates of the relevant management as of the date such statements are made and are subject to certain assumptions, important risk factors and uncertainties, many of which are beyond Giyani's ability to control or predict. Forward-looking statements are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. In the case of Giyani, these facts include anticipated operations in future periods, planned construction and development of its properties and facilities, and plans related to its business and other matters that may occur in the future. This information relates to analyses and other information that is based on expectations of future performance and planned work programs.
Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking information, including, without limitation: inherent exploration hazards and risks; risks related to exploration and development of natural resource properties; uncertainty in Giyani's ability to obtain funding; commodity price fluctuations; recent market events and conditions; risks related to governmental regulations; risks related to obtaining necessary licences and permits; risks related to Giyani's business being subject to environmental laws and regulations; risks related to the Company's mineral properties being subject to prior unregistered agreements, transfers, or claims and other defects in title; risks relating to competition from larger companies with greater financial and technical resources; risks relating to the inability to meet financial obligations under agreements to which they are a party; ability to recruit and retain qualified personnel; and risks related to the Company's directors and officers becoming associated with other natural resource companies which may give rise to conflicts of interests. This list is not exhaustive of the factors that may affect Giyani's forward-looking information. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking information or statements.
Giyani's forward-looking information is based on the reasonable beliefs, expectations and opinions of the Company's respective management on the date the statements are made, and Giyani does not assume any obligation to update forward looking information if circumstances or management's beliefs, expectations or opinions change, except as required by law. For the reasons set forth above, investors should not place undue reliance on forward-looking information. For a complete discussion with respect to Giyani and risks associated with forward-looking information and forward-looking statements, please refer to Giyani's continuous disclosure documents which are filed on SEDAR+ at www.sedarplus.ca.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/36e8483b-760c-4f00-bd8c-6467cf5cd915
