{"id":48196,"date":"2024-05-07T07:13:08","date_gmt":"2024-05-07T07:13:08","guid":{"rendered":"https:\/\/www.africa-press.net\/botswana\/all-news\/avanti-gold-acquiring-gold-prospecting-rights-in-botswana"},"modified":"2024-05-07T07:36:00","modified_gmt":"2024-05-07T07:36:00","slug":"avanti-gold-acquiring-gold-prospecting-rights-in-botswana","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/botswana\/all-news\/avanti-gold-acquiring-gold-prospecting-rights-in-botswana","title":{"rendered":"Avanti Gold acquiring gold prospecting rights in Botswana"},"content":{"rendered":"

Africa-Press – Botswana. <\/strong><\/span>Avanti Gold Corp. [CSE-AGC; FSE-X37] entered into a share exchange agreement, dated May 1, 2023, with MTM Ltd., a privately held arm\u2019s-length company established under the laws of the Republic of Seychelles, and each of the shareholders of MTM. Under the terms of the Exchange Agreement, the company proposes to acquire all the outstanding share capital of MTM.<\/b><\/p>\n

MTM, with a local partner, holds the rights to gold prospecting licenses in the Magisterial District of Molopo. The license rights cover an area of approximately 90 hectares, located in the highly prospective Kraaipan granite-greenstone belt terrain which extends 400 km from southern Botswana into Northwest Province South Africa. The transaction will expand the company\u2019s portfolio with an asset in the highly prospective, unexplored Kraaipan Greenstone Belt, located in Africa\u2019s premier mining jurisdiction, Botswana.<\/p>\n

Under the terms of the Exchange Agreement, the company proposes to acquire all of the issued and outstanding share capital of MTM in consideration for the issuance of an aggregate of 29,000,000 common shares. All of the Consideration Shares will be subject to restrictions on resale for a period of five months following issuance, in addition to any restrictions imposed by applicable securities laws.<\/p>\n

Completion of the transaction remains subject to receipt of any required regulatory approvals, and delivery of customary closing documents.<\/p>\n

Avanti Gold Corp. is a mineral exploration company working on a Tier-1 gold opportunity in the Democratic Republic of the Congo (DRC), located in the Fizi territory of South Kivu province, in the DRC. The Misisi Gold Project is located 250 km south of Bukavu, provincial capital of the South Kivu Province, in the DRC.<\/p>\n

The project is comprised of three contiguous 30-year mining leases, valid until 2045, covering 133 km2 of prospective exploration ground along the 55-km-long Kibara Gold Belt. The Kibara Belt is a well-known metallogenic province and hosts a number of other deposits including the Twangiza (5.1 Moz oz Au, source: S&P Global) and Namoya (1.9 Moz, source: S&P Global) gold mines.<\/p>\n

For More News And Analysis About Botswana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Botswana. Avanti Gold Corp. [CSE-AGC; FSE-X37] entered into a share exchange agreement, dated May 1, 2023, with MTM Ltd., a privately held arm\u2019s-length company established under the laws of the Republic of Seychelles, and each of the shareholders of MTM. Under the terms of the Exchange Agreement, the company proposes to acquire all […]<\/p>\n","protected":false},"author":84,"featured_media":48195,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,12],"tags":[233,237,234],"class_list":["post-48196","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-africa-press","tag-africa-press-botswana","tag-botswana"],"yoast_head":"\nAvanti Gold acquiring gold prospecting rights in Botswana - Botswana<\/title>\n<meta name=\"description\" content=\"Avanti Gold Corp. 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