Avanti Gold completes C$45 million private placement
Torys acted as counsel to Avanti Gold with a team that included Janan Paskaran, Jon McDonald, Nicole Beausoleil, and Owen O'Connor (corporate/securities).
On September 23, 2026, Avanti Gold Corp. (“Avanti Gold”) closed its previously announced bought deal private placement of 103,500,000 units of Avanti Gold (each, a "unit"), including 13,500,000 units issued pursuant to the full exercise of the underwriters’ option, at a price of C$0.50 per unit, for aggregate gross proceeds of C$51.75 million.
The offering was led by SCP Resource Finance LP, as sole bookrunner and lead underwriter on behalf of a syndicate of underwriters including BMO Nesbitt Burns Inc. and Haywood Securities Inc.
Each unit consists 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 proceeds from 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.