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Avanti Gold Raises CA$51.75 Million in a Bought-Deal Private Placement of Shares

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Avanti Gold (AGC.CN) closed a bought-deal private placement of share units that raised CA$51.75 million, it said in a statement on Wednesday.

The company sold underwriters 103.5-million units priced at C$0.50 each, including the full exercise of the 13.5-million units over-allotment option. Each unit consists of a share and one half of a three-year warrant to buy a share for CA$0.65.

Proceeds will be used for its 42,000-meter 2026 drill program across the Misisi project ion the Democratic Republic of the Congo, advancement of a maiden Preliminary Economic Assessment on the Misisi project, and general and administrative expenses and working capital needs, it said.

Shares of the company were last seen up 5.7% at CA$0.465 on the Canadian Securities Exchange.

Price: $0.47, Change: $+0.03, Percent Change: +5.68%

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Tourmaline to Sell CA$287.5 Million of Topaz Shares, Raises Quarterly Dividend 5%

Tourmaline Oil (TOU.TO) and Topaz Energy (TPZ.TO) said Tuesday that Tourmaline agreed to sell 10 million common shares of Topaz on a bought-deal basis at CA$28.75 per share for gross proceeds of about CA$287.5 million.The offering includes an option for the purchase of up to an additional 15% of the shares sold to cover over-allotments and for market stabilization.Topaz will not receive any proceeds from the offering.Tourmaline currently owns about 19.9 million Topaz shares, representing approximately 12.9% of the company's outstanding shares. Following the offering, Tourmaline will hold about 9.9 million Topaz shares, representing approximately 6.4% of Topaz, or 5.4% if the over-allotment option is exercised in full.Tourmaline intends to use the net proceeds to repurchase its common shares under the normal course issuer bid. Its board has also approved an increase in the quarterly base dividend effective in the fourth quarter of 2026 from CA$0.50/share to CA$0.525/share, representing a 5% increase from the current base dividend of CA$0.50/share.

$TOU.TO$TPZ.TO