Avante Mining Announced Debt Settlement and Option Grant
Vancouver, British Columbia--(Newsfile Corp. - September 6, 2023) - Avante Mining Corp. (TSXV: AVA) ("Avante" or the "Company"), is pleased to announce that its board of directors has approved the settlement of an aggregate principal amount of $36,582 in debt for services rendered through the issuance of common shares of the Company (the "Debt Settlement").
Pursuant to the Debt Settlement agreement dated September 5, 2023, the Company proposes to issue an aggregate of 243,880 common shares of the Company (the "Shares") at a deemed price of $0.15 per Share to settlement the debt with an arm's length party.
All securities issued will be subject to a statutory hold period which will expire on the date that is four months and one day from the date of issuance. The Debt Settlement remain subject to the approval from the TSX- Venture Exchange.
The Company also announces that it has granted stock options to its Directors, Officers, and Consultants, in accordance with the Company's Stock Option Plan, for the purchase of up to an aggregate of 1,700,000 Shares (the "Options").
The Options are exercisable for a period of ten years from the date of issuance with an exercise price of $0.12 per Share. Any Shares issued pursuant to the exercise of the Options will be subject to a hold period of four months plus one day from the date of grant.
About Avante Mining Corp.
Avante Mining Corp. (TSXV: ACP) is a mining exploration company focused on developing high-value geographically significant projects including the Voisey's West. Avante is paving the way by combining quality projects with proven exploration strategies and a dedicated team to achieve exceptional outcomes.
The Voisey's West is located in the same intrusive complex as the world class Voisey's Bay Nickel mine where reported remaining proven and probable 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.
For more information, visit avantemining.com.
The forward-looking statements contained in this press release are made as of the date hereof and Avante Mining Corp. undertakes no obligations to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CONTACT INFORMATION:
Adrian Smith, CEO and Director
Contact 1-778-331-3816
info@avantemining.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/179790