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Avanti Gold CORP. (CSE: AGC) (the Company") is pleased to announce that the company, and its wholly owned subsidiary, Regency Mining Ltd ("Regency") has entered into a binding settlement agreement with Arc Minerals Ltd ("Arc") in relation to USD 1,250,000 owed to Arc (the "Outstanding Payable").
Arc, Avanti and Regency engaged constructively to resolve the Outstanding Payable and have now entered into a new binding settlement agreement whereby the Outstanding Payable will be settled in cash (the "New Settlement Agreement").
Settlement Terms
Under the New Settlement Agreement, Avanti and Regency have jointly and severally undertaken to settle the total Outstanding Payable of US$1,250,000, as follows:
Through a cash payment, in full settlement of the Outstanding Payable, of a reduced Settlement Sum of:
US$562,500 (45%), if paid by 31 August 2025; or
US$625,000 (50%), if paid by 31 October 2025; or
US$750,000 (60%), if paid by 31 December 2025.
If payment hasn't been made by 31 December 2025, the full Outstanding Amount becomes immediately due and payable in full on 1 January 2026; and
Ian MacLean, CEO of Avanti Gold, commented:
"The Company is pleased that we have reached a binding agreement with Arc after a period of constructive negotiations. This settlement could assist in reducing the overall liabilities of Avanti."
About Avanti Gold Corp.
Avanti Gold Corp. is a gold exploration company with a robust portfolio of projects in Africa. The Company's flagship asset is the Misisi Project in the Democratic Republic of Congo (DRC), home to the Akyanga gold deposit. The Akyanga deposit has an Inferred Mineral Resource of 44.3 million tonnes (Mt) at an average gold grade of 2.37 grams per tonne (g/t), totalling 3.1 million ounces (Moz) of gold. The Misisi Project spans three contiguous 30-year mining leases covering 133 square kilometers (km²) along the 55-kilometer-long Kibara Gold Belt, a prominent metallogenic province known for hosting significant gold deposits.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the U.S. Securities
Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements thereunder.
Qualified Person
Ephraim Masibhera, a "Qualified Person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"), has reviewed the scientific and technical information that forms the basis for this news release and has approved the disclosure herein. Historical information contained in this news release cannot be relied upon as the Company's Qualified Person, as defined under NI 43-101 has not prepared nor verified the historical information.
On behalf of the Board of Directors
Avanti Gold CORP.
Ian MacLean, CEO
Email: imaclean@avantigoldcorp.comÂ
Office: +1 (604) 808-6300
Neither the Canadian Securities Exchange (CSE) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. These risk and uncertainties include, but are not limited to, the risk factors set out in Avanti's annual and/or quarterly management discussion and analysis and in other of its public disclosure documents filed on SEDAR+ at www.sedarplus.ca, as well as all assumptions regarding the foregoing. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/258547
