Avanti Gold announces C$45 million private placement

On August 31, 2026, Avanti Gold Corp. (“Avanti Gold”) announced that it has increased the size of its previously announced private placement as announced on August 30, 2026, from C$35 million to C$45 million.

The offering is led being led by SCP Resource Finance LP, as sole bookrunner and underwriter on behalf of a syndicate of underwriters (the "underwriters"), pursuant to which the underwriters have agreed to purchase, on a bought deal private placement basis, 90,000,000 units of Avanti Gold at a price of C$0.50 per unit for aggregate gross proceeds of C$45 million.

Avanti Gold has granted the underwriter an option to increase the size of the offering by up to 15%, exercisable in whole or in part at any time up to 48 hours prior to closing. Closing is expected to occur on or about September 22, 2026, or such other date as Avanti Gold and the underwriter may agree and remains subject to customary conditions, including the receipt of all necessary regulatory approvals. In the event the option is fully exercised, the maximum gross proceeds raised under the offering will be C$51.75 million.

Each unit will consist of one common share and one-half of one common share purchase warrant (each whole warrant, a "warrant"). Each warrant will entitle the holder to purchase one share of Avanti Gold at an exercise price of C$0.65 for a period of 36 months from the date of issuance thereof.

Net proceed of the offering will be used by Avanti Gold for (i) its announced 42,000-metre 2026 drill program across the Misisi Project, (ii) advancement of the PEA on the Misisi Project, (iii) general and administrative expenses, and (iv) working capital.

Further information can be found on Newsfile’s website.

Avanti Gold Corp. is a gold exploration company with a robust portfolio of projects in Africa. Its flagship asset is the Misisi Project in the Democratic Republic of the Congo, home to the Akyanga gold deposit. The Akyanga deposit has an inferred mineral resource of 40.8 million tonnes (Mt) at an average gold grade of 2.37 grams per tonne (g/t), totalling 3.11 million ounces (Moz) of gold. The Misisi Project spans three contiguous 30-year mining leases covering 133 square kilometers (km²) along the 55-kilometer-long Kibara Gold Belt, a prominent metallogenic province known for hosting significant gold deposits. A 42,000-metre drill program, the largest in the project's history, is now underway with the objective of growing gold resources in advance of a PEA which is expected to be published in 2027.