Giga Metals Engages Market Maker

Rhea-AI Summary

Giga Metals Corp. (TSX.V: GIGA, OTCQX: GIGGF) has engaged Independent Trading Group as Market Maker, aiming to improve liquidity and maintain a reasonable market for its common shares. The agreement includes a $5,500 monthly compensation for an initial three-month term, subject to renewal. ITG will not receive shares or options as compensation, and both parties are unrelated and unaffiliated entities.

VANCOUVER, British Columbia, Dec. 06, 2023 (GLOBE NEWSWIRE) -- Mark Jarvis, CEO of Giga Metals Corp. (TSX.V: GIGA, OTCQX: GIGGF) announced today that Giga has engaged Independent Trading Group as Market Maker, subject to regulatory approval. ITG will provide market-making services in accordance with TSX Venture Exchange TSXV, CSE, NEO policies. ITG will trade shares of the Company on the CSE/ NEO/ TSXV and all other trading venues with the objective of maintaining a reasonable market and improving the liquidity of the Company's common shares.

Under the agreement, ITG will receive compensation of $5,500 per month, payable monthly in advance. The agreement is for an initial term of three months and will renew for additional one-month terms unless terminated. The agreement may be terminated by either party with 30 days' notice. There are no performance factors contained in the agreement and ITG will not receive shares or options as compensation. ITG and the Company are unrelated and unaffiliated entities and at the time of the agreement, neither ITG nor its principals have an interest, directly or indirectly, in the securities of the Company.

About Independent Trading Group

Independent Trading Group (ITG) Inc. is a Toronto based CIRO dealer-member that specializes in market making, liquidity provision, agency execution, ultra-low latency connectivity, and bespoke algorithmic trading solutions. Established in 1992, with a focus on market structure, execution and trading, ITG has leveraged its own proprietary technology to deliver high quality liquidity provision and execution services to a broad array of public issuers and institutional investors.

About Giga Metals Corporation

Giga Metals Corporation’s core asset is the Turnagain Project, located in northern British Columbia, which contains one of the few significant undeveloped sulphide nickel and cobalt resources in the world. Turnagain is held in Hard Creek Nickel, a subsidiary owned 85% by Giga Metals Corporation and 15% by Mitsubishi Corporation. The Pre-Feasibility Study was released in October 2023.

On behalf of the Board of Directors of Giga Metals Corporation

“Mark Jarvis”

MARK JARVIS,
CEO

Contact Information
Office Phone: +1 (604) 681-2300
Investor Inquiries: info@gigametals.com
Company Website: www.gigametals.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Suite 203 – 700 West Pender St., Vancouver, BC, Canada V6C 1G8

FAQ

What is the latest announcement from Giga Metals Corp. (GIGA)?

Giga Metals Corp. (GIGA) has engaged Independent Trading Group as Market Maker to improve liquidity and maintain a reasonable market for its common shares.

What are the details of the agreement between Giga Metals Corp. and Independent Trading Group?

The agreement includes a $5,500 monthly compensation for an initial three-month term, subject to renewal. ITG will not receive shares or options as compensation, and both parties are unrelated and unaffiliated entities.

How long is the initial term of the agreement between Giga Metals Corp. and Independent Trading Group?

The initial term of the agreement is three months, with the option for renewal for additional one-month terms unless terminated with a 30-day notice.

What are the compensation terms for Independent Trading Group in the agreement with Giga Metals Corp.?

ITG will receive $5,500 per month, payable monthly in advance, with no performance factors contained in the agreement and no shares or options as compensation.