01:22 PM EDT, 10/23/2025 (MT Newswires) -- Avanti Gold ( AVTGF ) on Thursday said it closed its private placement offering of share units that raised $25 million.

The offering included 50-million units priced at $0.50 each and made up of a share and one half of a three-year warrant to buy a share for $0.65.

The company plans to use proceeds from the offering to advance exploration efforts, including ground geophysics and drilling programs, at the Misisi gold project in the Democratic Republic of Congo, as well as for working capital and general corporate purposes.

"I am pleased to see strong investor interest in our upsized LIFE offering which will provide us with the means to continue exploration efforts at the Misisi Gold Project, which has the potential to become a cornerstone asset in Africa," said incoming chief executive Martin Pawlitschek. "Our funded 2026 exploration program will focus on adding ounces at permitted areas along the 55-kilometer long Kibara gold belt including the Akyanaga deposit, which already has a 3.1Moz Inferred resource, and mineralized targets including Akyanga East, Ngalula, Lubitchako, Kilombwe and Tulonge."

Shares of the company were last seen up $0.055 to $0.49 on the Canadian Securities Exchange.

Price: 0.49, Change: +0.06, Percent Change: +12.79