Avante Mining Corp. announced a non-brokered private placement of up to 937,500 units at the price of CAD 0.16 per unit for gross proceeds of up to CAD 150,000 on May 24, 2023. Each Unit consists of one flow-though common share and one half of one non-flow-through common share purchase warrant. Each Warrant entitles the holder thereof to purchase one additional non-flow through common share at an exercise price of CAD 0.20 for a period of two years. All securities issued pursuant to the transaction are subject to a hold period of four months plus one day from the date of issuance and the resale rules of applicable securities legislation. The closing of the transaction is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory, including the approval of the TSX Venture Exchange. The company paid finder fees of CAD 15,000 cash and issued 93,750 broker warrants on gross proceeds raised by eligible arm?s length parties. Each Broker Warrant is exercisable into one common share in the capital of the company at an exercise price of CAD 0.16 per common share for a period of two years.

The TSX Venture Exchange has accepted for filing documentation with respect to the transaction. The transaction included participation from 1 placee.