On Wednesday Giyani Gold has announced in a statement that the company is arranging a non-brokered private placement of up to four-million common shares at a price of $0.05 apiece for gross proceeds of up to $200 000.

The company said ‘management, directors, and insiders of Giyani intend on participating in the Private Placement, the net proceeds of which are to be used for general working capital purposes’.

The placement was expected to close before March 30.