Avante Closes Private Placement
1890 – 1075 West Georgia Street, Vancouver, BC V6E 3C9
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AVANTE CLOSES PRIVATE PLACEMENT
Not for Distribution to U.S. Newswire Services or for Dissemina tion in the United States.
Vancouver, BC, December 22, 2023 - Avante Mining Corp. ("Avante " or the "Company")
(TSXV: AVA) (OTCPK: ACPRF) (FSE: P210) is pleased to announce that, subject to the final
approval of the TSX Venture Exchange (the “ Exchange”), the Company has closed a non-
brokered private placement of 11,666,670 units (“ Units”) at a price of $0.06 per Unit for gross
proceeds to the Company of $700,000 (the "Private Placement").
Each Unit consists of one common share (each a “ Share”) and one half of one transferrable
common share purchase warrant (with two such half warrants being a “Warrant”). Each Warrant
will entitle the holder thereof to purchase one additional Share in the capital of the Company at a
price of $0.12 per Share, for a period of twenty-four months from the date of issuance.
Adrian Smith, CEO, comments, “We are pleased to engage strategi c investors interested in the
long-term success of the Company as we focus our efforts on nickel and critical metals essential
to the energy transition. We plan to continue work and accelerate our efforts throughout the winter
and spring, as we tap into the potential at the Company’s Pipestone project.”
The gross proceeds from the Private Placement will be used by the Company to fund exploration
expenses at its Pipestone project and Voisey’s West project loc ated in Newfoundland and
Labrador, Canada, and for general working capital. No finder’s fees were paid in connection with
the Private Placement.
All securities issued pursuant to the Private Placement are sub ject to an Exchange hold period
and a four month plus one day hold period pursuant to applicabl e securities laws of Canada,
which will expire on April 22, 2024.
MI 61-101 Disclosure
Certain insiders of the Company participated in the Private Pla cement for an aggregate total of
$31,200 in Units. The participation by such insiders is conside red a “related-party transaction”
within the meaning of Multilateral Instrument 61-101 - Protecti on of Minority Security Holders in
Special Transactions (“MI 61-101”). The Company has relied on e xemptions from the formal
valuation and minority shareholder approval requirements of MI 61-101 contained in 5.5(b) and
5.7(1)(b), respectively, of MI 61-101. The Company did not file a material change report more
than 21 days before the expected closing of the Private Placeme nt as the details of the
participation therein by related parties of the Company were not settled until shortly prior to closing
the Private Placement and the Company wished to close on an exp edited basis for sound
business reasons.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the
securities in the United States. The securities have not been and will not be registered under the
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United States Securities Act of 1933, as amended (the "U.S. Sec urities Act") or any state
securities laws and may not be offered or sold within the United States or to U.S. Persons unless
registered under the U.S. Securities Act and applicable state securities laws or an exemption from
such registration is available.
About Avante Mining Corp.
Avante Mining Corp. is a mining exploration company focused on developing high-value
geographically significant projects including the Voisey’s West and the Pipestone Project. Avante
is paving the way by combining quality projects with proven exploration strategies and a dedicated
team to achieve exceptional outcomes.
The Company’s Voisey’s West project is located in the same intrusive complex as the world class
Voisey's Bay Nickel mine where reported remaining proven and pr obable reserves include 32.4
million tonnes of 2.13% nickel, 0.96% copper, 0.13% cobalt, and additional measured and
indicated 10.3 million tonnes of 0.87% nickel, 0.65% copper, 0. 04% cobalt. It represents one of
the most competitive nickel operations globally.
The Pipestone Project represents one of the rare awaruite proje cts globally which are a focus in
the development of large-scale bulk tonnage nickel targets that have low carbon emission profiles
and are very attractive to steel produces looking to reduce their carbon output.
For more information, please call Adrian Smith, CEO, at 1-778-3 31-3816, email
[email protected], or visit www.avantemining.com.
Neither TSX Venture Exchange nor its Regulation Services Provid er (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Forward-looking statements:
This News Release includes certain "forward-looking statements" which are not comprised of
historical facts. Forward-looking statements include estimates and statements that describe the
Company’s future plans, objectives or goals, including words to the effect that the Company or
management expects a stated condition or result to occur. Forwa rd-looking statements may be
identified by such terms as “believes”, “anticipates”, “expects ”, “estimates”, “may”, “could”,
“would”, “will”, “likely”, “probably”, “often”, or “plan”. Sinc e forward-looking statements are based
on assumptions and address future events and conditions, by the ir very nature they involve
inherent risks and uncertainties. Although these statements are based on information currently
available to the Company, the Company provides no assurance tha t actual results will meet
management’s expectations. Risks, uncertainties and other factors involved with forward-looking
information could cause actual events, results, performance, prospects and opportunities to differ
materially from those expressed or implied by such forward-looking information. Forward looking
information in this news release includes, but is not limited t o, the use of the proceeds from the
Private Placement, the Company’s objectives, goals or future pl ans, statements, and estimates
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of market conditions. Factors that could cause actual results to differ materially from such forward-
looking information include future growth potential of the Comp any, fluctuations in general
macroeconomic conditions, fluctuations in securities markets, t he ability of the Company to
successfully achieve its business objectives, plans for expansi on, inability to obtain adequate
insurance to cover risks and hazards and general market conditions. Additional factors and risks
including various risk factors discussed in the Company’s discl osure documents which can be
found under the Company’s profile on http://www.sedarplus.ca. Should one or more of these risks
or uncertainties materialize, or should assumptions underlying the forward-looking statements
prove incorrect, actual results may vary materially from those described herein as intended,
planned, anticipated, believed, estimated or expected.
Although the forward-looking statements contained in this news release are based upon what
management of the Company believes, or believed at the time, to be reasonable assumptions,
the Company cannot assure shareholders that actual results will be consistent with such forward-
looking statements, as there may be other factors that cause re sults not to be as anticipated,
estimated or intended. Readers should not place undue reliance on the forward-looking
statements and information contained in this news release. Thes e statements speak only as of
the date of this news release. The Company assumes no obligation to update the forward-looking
statements of beliefs, opinions, projections, or other factors, should they change, except as
required by law.