Avanti Gold upsizes bought deal private placement to C$45M

Avanti Gold Corp. (CSE: AGC, FSE: X370, OTCQB: AVTGF) has increased the size of a previously announced private placement from C$35 million to C$45 million, according to a company statement.

The offering, led by SCP Resource Finance LP as sole bookrunner and underwriter, involves 90,000,000 units priced at C$0.50 per unit. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share at C$0.65 for 36 months from the date of issuance.

The company has granted the underwriters an option to increase the offering size by up to 15%, exercisable up to 48 hours before closing. If fully exercised, maximum gross proceeds would reach C$51.75 million. Closing is expected on or about September 22, 2026, subject to regulatory approvals.

Underwriters will receive a cash commission of 6.0% of gross proceeds and broker warrants equal to 6.0% of units sold, with each broker warrant exercisable at the issue price for three years from closing.

Net proceeds are designated for the company's 42,000-metre 2026 drill program at its Misisi Project in the Democratic Republic of the Congo, advancement of a preliminary economic assessment on the project, general and administrative expenses, and working capital.

Certain insiders may participate in the offering, which would constitute a related party transaction under Multilateral Instrument 61-101. The company intends to rely on exemptions from formal valuation and minority shareholder approval requirements, as insider participation is not expected to exceed 25% of the company's market capitalization.

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