Avanti Gold closes C$25 million private placement
Torys acted as counsel to Avanti Gold with a team that included Janan Paskaran, Mike Pedlow, Jon McDonald and Jack Kuzyk (corporate/securities).
On October 23, 2025, Avanti Gold Corp.(“ Avanti Gold”) announced the closing of its previously announced private placement of 50,000,000 units, at a price of C$0.50 per unit, for aggregate gross proceeds of C$25,000,000.
Upsized from the announced C$15,000,000 to C$25,000,000 on October 1, 2025, the offering was led by SCP Resource Finance LP, as lead agent and sole bookrunner, and a syndicate of agents, including Haywood Securities Inc., Canaccord Genuity Corp. and Raymond James Ltd.
Each unit consists of up one common share and one half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”). Each Warrant entitles 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. The Warrants issued pursuant to the offering are subject to a restriction on exercise expiring 61 days from the date of issuance.
Avanti Gold intends to use the net proceeds from the offering for the advancement of exploration efforts, including ground geophysics and drilling programs, at the Misisi gold project located in the Democratic Republic of the Congo, which hosts a 43-101 compliant Inferred Mineral Resource of 41Mt at an average grade of 2.37 g/t containing 3.1 Moz of gold. In addition, net proceeds will be used for working capital and general corporate purposes.
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 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.