Mining exploration companies Avanti Gold Corp. and MTM have finalized a Share Exchange Agreement, encompassing Avanti’s acquisition of prospecting rights in South Africa’s Kraaipan Greenstone Belt.
Under this agreement, Avanti Gold Corp. will issue 29 million common shares to MTM’s shareholders in exchange for all issued and outstanding share capital of MTM.
These shares will be subject to a five-month resale restriction and other relevant securities regulations.
The strategic move expands Avanti Gold Corp.’s portfolio without constituting a fundamental change or altering its control, in accordance with applicable securities laws and policies of the Canadian Securities Exchange.
Completion of the transaction awaits necessary regulatory approvals and customary closing documents.
MTM, in partnership with a local entity, currently holds rights to gold prospecting licenses in the Magisterial District of Molopo, encompassing an area within the Kraaipan Granite-Greenstone Belt.
This belt extends over 400 km from southern Botswana into Northwest Province South Africa.
