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Valorem Resources ( (TSE:AGC) ) has issued an update.
Avanti Gold Corp. has successfully closed the final tranche of a $1,400,000 private placement, issuing 14,799,927 units at $0.035 per unit. The proceeds will be used for the Misisi Gold Project in the Democratic Republic of Congo and general working capital. Key insiders participated in the offering, leading to a significant insider ownership stake. Additionally, the company granted 3,500,000 restricted share units under its Omnibus Equity Incentive Plan to directors, officers, and consultants, enhancing its equity compensation strategy.
More about Valorem Resources
Avanti Gold Corp. is a gold exploration company with a strong portfolio of projects in Africa. The company’s flagship asset is the Misisi Project in the Democratic Republic of Congo, which hosts the Akyanga gold deposit. This project encompasses three contiguous 30-year mining leases covering 133 square kilometers along the Kibara Gold Belt, known for significant gold deposits.
Average Trading Volume: 368,539
Technical Sentiment Signal: Buy
Current Market Cap: C$15.77M
Learn more about AGC stock on TipRanks’ Stock Analysis page.