Giyani GoldCorp. said on March 31 that the planned deal to acquire a Canadian financial servicescompany in a reverse takeover has lapsed.
The group had entered an indicative letter of intent inOctober 2015 with a view to acquiring Crystal Capital Wealth Corp. by means ofa reverse takeover and change of business.
Giyani is entitled to and will pursue collecting aUS$250,000 break fee. Crystal has loaned the company C$35,000 which will bededucted from the break fee owing.
It added it is pursuing opportunities to enhance shareholdervalue.
Giyani also said Mark Frewin has resigned as a director.