Avanti Gold Corp. has agreed to a C$35 million bought deal private placement to fully fund its 2026 exploration program and ongoing study work at the Misisi Gold Project in the Democratic Republic of the Congo.

Under the agreement with lead bookrunner and underwriter SCP Resource Finance LP, Avanti will issue 70,000,000 units at C$0.50 per unit. Each unit consists of one common share and one-half of a common share purchase warrant. Whole warrants can be exercised at C$0.65 for 36 months from issuance.

The financing package includes an option for underwriters to increase the offering size by up to 15% prior to closing. Transaction closing is expected on or about September 22, 2026, subject to customary regulatory approvals and exchange policies.

Net proceeds are earmarked to advance a 42,000-metre drill program across the full permit area and progress a maiden Preliminary Economic Assessment for the Misisi Project, alongside general administrative expenses and working capital requirements. Avanti established Kalemie as its logistical base for the project, utilizing regional port, airport, and highway infrastructure to mobilize equipment. Field work also follows the assaying of 2,100 metres of historical drill core from the Akyanga deposit initiated earlier in the year.

Alongside the financing, the company announced board changes ahead of its annual general meeting of shareholders, which is expected to be held on or about October 23, 2026. Matthieu Bos is proposed as incoming board chair, alongside nominees George Bennett and Eric Zurrin. Terry Holohan and Martin Pawlitschek will stand for re-election, while remaining directors will step down. Chairman Sir Samuel Jonah will not stand for re-election due to personal commitments and business focus, but will remain involved as a consultant. Mohamed Cisse continues in his role as chief executive officer.

The maiden Preliminary Economic Assessment for the Misisi Project is scheduled to be published in 2027.

Read the full announcement: Avanti Gold Announces Bought Deal Private Placement, Board Restructuring and Annual General Meeting