08:52 AM EDT, 06/16/2025 (MT Newswires) -- Giyani Metals ( CATPF ) said Monday that it received a non-binding letter of interest from the Export-Import Bank of the United States for up to US$225 million in financing to support the construction of the K.Hill manganese project in Botswana.

The company said the long-term debt has a repayment period of up to 15 years.

Giyani noted that the potential debt financing is contingent upon the completion of due diligence, agreement on final terms, and execution of definitive documentation, including a definitive feasibility study. The company expects to complete the study in the first quarter of 2026.

"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," said Charles FitzRoy, president and CEO of Giyani. "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."

Giyani's share price fell 5.9% on Friday to $0.08 on the TSXV.