Business
Avanti Gold Announces Closing of First Tranche of Non Brokered Private Placement
August 20, 2024 – TheNewswire - AVANTI GOLD CORP. (CSE: AGC) (the “Company”) is pleased to announce the closing of the first tranche (the "First Tranche") of it
About this update from Avanti Gold Corp
[{"type":"text","content":"August 20, 2024 – TheNewswire - AVANTI GOLD CORP. (CSE: AGC) (the “Company”) is pleased to announce the closing of the first tranche (the \"First Tranche\") of its previously announced non brokered private placement (the \"Offering\"). Under the First Tranche of the Offering, Avanti will issue an aggregate of 4,099,000 units of the Corporation (the \"Units\") at a price of C$0.125 per Unit for aggregate gross proceeds of C$512,375. Closing of the second tranche of the Offering is expected to be on or before August 30th, 2024, or such other date or dates that the Corporation may determine. Each Unit is comprised of one common share (each a “Common Share”) in the share capital of the Company and one common share purchase warrant (each a “Warrant”). Each Warrant entitles its holder to purchase one additional common share at a price of $0.20 for a period of 24 months until August 20, 2026. All Common Shares and Warrants issued pursuant to the Offering are subject to a hold period of four months plus one day from the date of issuance of the Offered Securities being December 21, 2024. In connection with the closing of the First Tranche of the Offering, the Corporation will pay finders fees of C$8,706.25 in cash. No finders securities were issued The proceeds of the Private Placement will be used for exploration on the Misisi Project and general working capital purposes. The securities issued pursuant to the Private Placement will be subject to a four-month-and-one day statutory hold period in accordance with applicable securities law. Avanti Gold Corp. is a Canadian-based gold exploration company with a robust portfolio of projects in Africa. The Company’s flagship asset, the Misisi Project in the Democratic Republic of Congo (DRC), is home to the Akyanga gold deposit. Akyanga is a 43-101 compliant, Inferred Mineral Resource of 44.3 million tonnes at an average gold grade of 2.37 grams per tonne, containing 3.1 million ounces of gold. The Misisi Project spans three contiguous 30-year mining leases covering 133 square kilometers along the 55-kilometer-long Kibara Gold Bel To date, over $30 million has been invested in exploration at the Misisi Project, including 20,000 meters of diamond drilling and 500 kilometers of trenching. Extensive geochemical and geophysical work has been conducted over ...