Avanti Gold Corp. Raises C$25M for Misisi Project Exploration
Avanti Gold Corp. has successfully closed its oversubscribed private placement, raising C$25 million. The funding will support exploration at the Misisi Project in the Democratic Republic of Congo, home to the significant Akyanga gold deposit.
The offering, led by SCP Resource Finance LP, saw participation from insiders, strategics, institutional investors, and high net worth individuals. It consisted of up to 50,000,000 units at C$0.50 per unit, each including one common share and one half of one common share purchase warrant. Incoming CEO Martin Pawlitschek expressed strong confidence in the company's vision and assets, driving the increased placement from C$15 million to C$25 million.
The net proceeds will fuel further exploration efforts at the Misisi Project, including ground geophysics and drilling programs. The project spans three contiguous 30-year mining leases covering 133 square kilometers along the 55-kilometer-long Kibara Gold Belt. It is home to the Akyanga gold deposit, with an Inferred Mineral Resource of 44.3 million tonnes at an average grade of 2.37 g/t, totalling 3.1 million ounces of gold.
Avanti Gold Corp. successfully raised C$25 million through an oversubscribed private placement. The funds will drive exploration at the Misisi Project, home to the significant Akyanga gold deposit. The offering, led by SCP Resource Finance LP, demonstrated strong investor confidence in the company's vision and assets.
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