Meeting Approved Loan - See news below.VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 19, 2013) - Avanti Mining Inc. (TSX VENTURE:AVT)(PINKSHEETS:AVNMF) and its wholly owned subsidiary Avanti Kitsault Mine Ltd. ("Avanti" or the "Company") announce that, further to the Company's press releases dated October 31, 2013, November 22, 2013 and December 4, 2013, the Company has received shareholder approval of the proposed US$50 Million Preconstruction Loan with Resource Capital Fund VI L.P. (the "Facility"). The Facility was approved by 99.98% of the votes cast by Avanti shareholders after excluding those votes required to be excluded by Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions at the special meeting held on December 18, 2013. A total of 308,280,798 common shares of Avanti were voted, representing 70.03% of the issued and outstanding shares of Avanti.
The Company expects to close the Facility transaction on or about December 19, 2013. Additional information regarding the terms of the Facility are set out in Avanti's management information circular dated November 21, 2013 which is available under Avanti's profile at www.sedar.com.
About Resource Capital Fund VI L.P.:
Resource Capital Fund VI L.P. ("RCF") is a private equity fund with mandates to make investments exclusively in the mining sector across a diversified range of hard mineral commodities and geographic regions. RCF is managed by RCF Management L.L.C. which has its principal office in Denver and additional offices in Perth, New York (Long Island) and Toronto. RCF has provided financing for Avanti to acquire and develop the Kitsault deposit since 2008 and owns approximately 38% of the Company's issued and outstanding shares.
About Avanti:
Avanti acquired the past producing Kitsault molybdenum mine located north of Prince Rupert in British Columbia in 2008 and has been focused on its development ever since. It has spent the last five years in a comprehensive environmental assessment process with both the BC and Canadian governments, and with extensive consultation with the First Nations. It received the BC Environmental Assessment Certificate in March 2013 and the Company expects the Canadian Environmental Assessment Approval shortly. All the Federal review steps have been completed and the final decision by the Federal Minister of Environment is pending. In April 2013 the Company applied for permits to commence construction and the permitting process is well advanced. The Company is currently awaiting the permits to start construction.
For further information, please visit www.avantimining.com.
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