Avanti Gold announces C$25 million private placement
On September 30, 2025, Avanti Gold Corp.(“ Avanti Gold”) announced that it has entered into an agreement with SCP Resource Finance LP on behalf of itself and a syndicate of agents including Haywood Securities Inc., Canaccord Genuity Corp., and Raymond James Ltd. to act, on behalf of Avanti, in connection with a "commercially reasonable efforts" private placement offering for gross proceeds of up to C$15,000,000.
An upsize to the offering was announced on October 1, 2025, from C$15,000,000 to C$25,000,000 and that the oversubscribed book was closed. The offering will consist of up to 50,000,000 units of Avanti Gold at a price of C$0.50 per unit, subject to all necessary regulatory approvals.Each unit will consist of one common share of Avanti Gold and one half of one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one share at an exercise price of C$0.65 for a period of 36-months from the date of issuance thereof. The warrants issued pursuant to the offering will be subject to a restriction on exercise expiring 61 days from the date of issuance.
Net proceeds will be allocated to further exploration efforts, including ground geophysics and the expansion of drilling programs at the Misisi Project as well as for general working capital for the Company that hosts the Akyanga gold deposit that resides within the Misisi Project with a 43-101 compliant inferred mineral resource of 41Mt at an average grade of 2.37 g/t containing 3.1 Moz of gold.
The offering is scheduled to close on or about October 20, 2025, or such other date as Avanti Gold and SCP may agree. Completion of the offering is subject to certain conditions including, but not limited to the receipt of all necessary approvals, including the approval of the Canadian Securities Exchange.
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 Congo, home to the Akyanga gold deposit. The Akyanga deposit has an inferred mineral resource of 44.3 million tonnes (Mt) at an average gold grade of 2.37 grams per tonne (g/t), totalling 3.1 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.