Giyani Supports Canoe Mining Venture RTO Agreement With OpenPort Limited
March 21, 2018 (Source) — Giyani Metals Corporation (TSXV:WDG) (GR:A2DUU8) (“Giyani” or the “Company”) is pleased to comment on the announcement made yesterday by Canoe Mining Ventures Corp.
Canoe Mining Ventures Corp. (“Canoe”) yesterday announced their intention to complete a reverse take-over (RTO) with OpenPort Ltd. (“OpenPort”) of Hong Kong. OpenPort is a private blockchain technology company generating significant top line revenue with a Fortune 500 client base across Asia currently utilizing their proprietary transport management system (“TMS”) and digital logistics network. Canoe and OpenPort are currently engaged in a joint development effort to build a Mining Operations Logistics Solution (“MOLS”) that leverages OpenPort’s blockchain software and logistics expertise and Canoe’s mining industry knowhow. MOLS is being designed to service the traditional mining industry using a blockchain protocol to track and deliver drill samples and/or finished resources.
Giyani currently owns 13,690,000 common shares in Canoe, and as a major shareholder offers full support to the transaction by, in principal, agreeing to a lock up agreement voting in favour of the RTO and a voluntary escrow of their shares as may be necessary during the transaction completion period.
“Giyani’s partial ownership of Canoe represents a previously underperforming asset that is about to return great value to our Company and shareholders; we fully support this transaction which will boost the intrinsic value of our Company,” said CEO, Robin Birchall.
Giyani Metals Corp. is a Canadian based junior exploration company focused on creating shareholder value by accelerating the development of its high-grade manganese project in the Kanye Basin, Botswana, Africa.
On behalf of the Board of Directors of Giyani Metals Corp.
Robin Birchall, CEO
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 release.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, the financial picture of the Company etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statement.