SOURCE: Avanti Mining Inc.

Avanti Mining Inc.

October 19, 2014 23:00 ET

Avanti Mining Issues Shares in Lieu of Cash for Interest Payable Under Terms of RCF Bridge Loan and RCF Preconstruction Loan

VANCOUVER, BC--(Marketwired - October 19, 2014) - Avanti Mining Inc. (TSX VENTURE: AVT) ("Avanti" or the "Company") announced today that in accordance with the terms of the Amended and Restated Loan Agreement (the "Bridge Loan") dated July 12, 2013, among Avanti, its wholly-owned subsidiary, Avanti Kitsault Mine Ltd. ("AKM"), CEF (Capital Markets) Limited, Resource Capital Fund IV, LP ("RCF IV") and Resource Capital Fund VI, LP ("RCF VI"), Avanti has made interest payments in the aggregate amount of US$500,000 for the period from July 1, 2014 to September 30, 2014 by delivering to each of RCF IV and RCF VI, 3,114,955 common shares. In addition, in accordance with the terms of the Preconstruction Loan Agreement dated December 19, 2013, among Avanti, AKM and RCF VI, Avanti has made interest payments in the amount of US$1,000,000 for the period from July 1, 2014 to September 30, 2014 by delivering to RCF VI 12,459,821 common shares. All such shares will be subject to a four-month hold period.

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.

Contact Information

  • For further information, please visit www.avantimining.com, or contact:

    Shawn Howarth
    Vice President
    Corporate Development and Investor Relations
    (416) 847-0376
    or
    Graham du Preez
    Chief Financial Officer
    (416) 847-0376