🕐22.01.10 - 16:44 Uhr
Avanti Mining Files Preliminary Prospectus
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Re: News Release - Friday, January 22, 2010
Avanti Mining Files Preliminary Prospectus
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Not for distribution to U.S.
Newswire Services or for dissemination in
the United States
Vancouver, British Columbia: Avanti Mining Inc.
("Avanti" or the
"Corporation"), announced today that it has filed a preliminary short
form prospectus in connection with a marketed public offering of units
(the "Units") of the Corporation (the "Offering").
The Offering will
be conducted through a syndicate of underwriters led by BMO Capital
Markets and including GMP Securities L.P.
and Macquarie Capital Markets
Canada Ltd.
(collectively, the "Underwriters").
Each Unit will consist of one common share of Avanti (a "Common Share")
and one-half of one Common Share purchase warrant (each whole warrant,
a "Warrant").
The number of Units to be issued as well as the offering
price per Unit (the "Offering Price"), the exercise price of the
Warrants and the expiry date of the Warrants will be determined in the
context of the market.
The proposed Offering is for approximately C$25 million, and Avanti has
also granted the Underwriters an over-allotment option up to 15% of the
aggregate number of Units sold in the Offering to cover over-allotments
and for market stabilization purposes, exercisable in whole or in part
at any time up to 30 days after the closing of the Offering.
Avanti
intends to principally use the proceeds from the Offering to advance
its work on the Kitsault Property towards a completed NI 43-101
compliant Feasibility Study based on the NI 43-101 Pre-Feasibility
Study dated December 15, 2009 and for general corporate purposes.
Closing of the Offering is subject to certain conditions, including
regulatory approval and approval of the TSX Venture Exchange.
The preliminary prospectus is still subject to completion or amendment.
Copies of the preliminary prospectus are available electronically at
www.sedar.com.
There will not be any sale or any acceptance of an offer
to buy the securities until a receipt for the (final) prospectus has
been issued.
This news release does not constitute an offer to sell, or the
solicitation of an offer to buy, the securities in any jurisdiction,
including the United States, or to, or for the account or benefit of,
U.S.
persons absent U.S.
registration or an applicable exemption
therefrom, nor shall there be any sale of the securities in any state
in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state.
The securities being offered will not be, and have not been,
registered under the United States Securities Act of 1933, as amended,
and may not be offered or sold within the United States or to, or for
the account or benefit of, a U.S.
person, absent U.S.
registration or
an applicable exemption therefrom.
Avanti is focused on the development of the past producing Kitsault
molybdenum mine located north of Prince Rupert in British Columbia.
For further information, please visit www.avantimining.com, or call
303-565-5491 to contact:
Craig J.
Nelsen, Chief Executive Officer
A.J.
Ali, Chief Financial Officer
Forward-Looking Statements: This news release contains certain
forward-looking information concerning the business of the Corporation.
All statements, other than statements of historical fact, included
herein including, without limitation, statements concerning the
Offering and the proposed use of proceeds from the Offering are
forward-looking statements.
These forward-looking statements are based
on the opinions of management at the date the statements are made and
are based on assumptions and subject to a variety of risks and
uncertainties and other factors that could cause actual events to
differ materially from those projected in forward-looking statements.
Important factors that could cause actual results to differ materially
from the Corporations expectations include fluctuations in commodity
prices and currency exchange rates; uncertainties relating to
interpretation of drill results and the geology, continuity and grade
of mineral deposits; uncertainty of estimates of capital and operating
costs, recovery rates, production estimates and estimated economic
return; the need for cooperation of government agencies and native
groups in the exploration and development of properties and the
issuance of required permits; the need to obtain additional financing
to develop properties and uncertainty as to the availability and terms
of future financing; the possibility of delay in exploration or
development programs or in construction projects and uncertainty of
meeting anticipated program milestones; uncertainty as to timely
availability of permits and other governmental approvals; and other
risks and uncertainties disclosed in the Corporations Preliminary
Prospectus filed on January 21, 2010 and the Corporations Annual
Information Form for the year ended January 31, 2009, each of which is
available at www.sedar.com.
The Corporation is under no obligation to
update forward-looking statements if circumstances or managements
opinions should change, except as required by applicable securities
laws.
The reader is cautioned not to place undue reliance on
forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
You can also view this News Release on our website at:
http://www.avantimining.com/s/NewsReleases.asp?ReportID=381872
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Copyright (c) 2010 AVANTI MINING CORP.
(AVMI) All rights reserved.
For more information visit our website at http://www.avantimining.com/
or send mailto:
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