Giyani Gold has acquired a majority interest in the newly launched company Canoe Mining Ventures by means of a securities exchange agreement.
“Giyani Gold, through our large ownership position, will directly benefit from any successes Canoe has in their acquisition activities and exploration programs,” said Duane Parnham, executive chairman of Giyani Gold.
“Canoe is a well-funded company with a strong shareholder base. I have joined Canoe’s Board of Directors to help grow them into a leading Canadian-focused mining company which will, in turn, grow the value of Giyani Gold’s holdings.”
It is expected that Canoe will initially commence with an exploration program consisting of geophysics and drilling on high priority targets identified on the Keating and Killins property.
Giyani Gold as a company is now focused on their Giyani Gold Project in South Africa and continuing their evaluation of acquisition targets in Southern Africa.