🕐22.12.09 - 16:16 Uhr
Avanti Mining Announces 12,221,019 Warrants Exercised by Resource Capital Fund f
or Proceeds of $2,639,740
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Re: News Release - Tuesday, December 22, 2009
Avanti Mining Announces 12,221,019 Warrants Exercised by Resource
Capital Fund for Proceeds of $2,639,740
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Vancouver, British Columbia: Avanti Mining Inc.
(TSX-V: AVT)
("Avanti") is pleased to announce that Resource Capital Fund IV LP
("RCF") has voluntarily exercised 12,221,019 warrants that do not
expire until November 5, 2013 at an exercise price of $0.216 for
proceeds to Avanti of $2,639,740.
Use of proceeds will be for
permitting applications and general corporate purposes.
Avanti will have 268,268,158 shares and 38,759,940 warrants issued and
outstanding after this transaction.
"This is a tremendous vote of confidence by RCF in the Kitsault project
and encourages us to request proposals for a Feasibility Study from a
short list of engineering firms, early in 2010", said Craig Nelsen,
President & CEO
Avanti Mining Inc.
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 phone
303-565-5491 to contact:
Craig J.
Nelsen, Chief Executive Officer
A J Ali, Chief Financial Officer
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.
Forward-Looking Statements: This news release contains certain
forward-looking information concerning the business of Avanti Mining
Inc.
(the "Corporation").
All statements, other than statements of
historical fact, included herein including, without limitation
statements about: the use of proceeds from the warrant exercise, the
preparation of a feasibility study and the development of the Kitsault
molybdenum mine, 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 Annual Information Form dated July 2, 2009, 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.
You can also view this News Release on our website at:
http://www.avantimining.com/s/NewsReleases.asp?ReportID=378380
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Copyright (c) 2009 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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