Toubani Resources Completes 19.9% Avanti Gold Stake for 72.9M Shares
Toubani Resources has completed its acquisition of a 19.9% stake in Canadian-listed Avanti Gold Corporation (CSE: AGC), marking the settlement of a cross-border transaction first announced on 29 June 2026. The deal closed on 17 July 2026, positioning Toubani as a significant shareholder in the gold explorer.
Toubani secures strategic stake in Canadian gold explorer
The completed transaction sees Toubani acquiring 44.5 million shares in Avanti Gold, representing a 19.9% ownership stake. In consideration, the company issued 72.9 million Toubani shares to Avanti shareholders. Additionally, 36.45 million Toubani options are to be granted, subject to applications under an option prospectus filed on the same day. The options carry an exercise price of $0.60 and expire three years from the date of issue.
By securing a substantial minority position in a Canadian-listed explorer, Toubani shareholders now hold indirect exposure to Avanti’s exploration portfolio through their existing ASX listing.
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Understanding scrip-based acquisitions
A scrip-based acquisition involves paying for assets using shares rather than cash. In this transaction, Toubani issued new equity to Avanti shareholders instead of drawing down cash reserves. Companies typically choose this structure to preserve capital for project development whilst still executing strategic expansion.
The scrip deal allows Toubani to conserve its cash runway whilst building a stake in Avanti. Avanti shareholders receiving Toubani shares become aligned with the company’s success, creating mutual interest between both shareholder bases. The option component provides additional future potential share issuance if the exercise price of $0.60 is reached within the three-year exercise window.
Transaction structure and consideration breakdown
The deal comprises three components: the immediate share acquisition, the scrip consideration issued to Avanti shareholders, and the option grant subject to prospectus applications.
| Consideration Component | Details | Status |
|---|---|---|
| Avanti shares acquired | 44.5 million shares | Completed |
| Toubani shares issued | 72.9 million shares | Completed |
| Toubani options to be granted | 36.45 million options | Subject to prospectus applications |
| Option exercise price | $0.60 | — |
| Option expiry | 3 years from issue | — |
The options are subject to receipt of applications under the option prospectus filed on 17 July 2026.
Toubani’s broader development strategy
Toubani’s core asset remains the Kobada Gold Project, an oxide-dominant gold development project positioned as Africa’s next large gold development project. The company is led by a highly experienced Board and management team with a proven African track record in advancing projects through exploration, development and into production.
The Avanti stake represents a complementary position alongside the flagship African asset. Whilst Kobada continues as the primary development focus, the Canadian exposure provides portfolio diversification. Investors in Toubani now hold exposure to both African development upside and Canadian exploration optionality through a single ASX listing.
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What this means for Toubani shareholders
The completed transaction expands Toubani’s strategic footprint beyond a single-asset development company. The deal has now settled, marking a completed milestone rather than a pending conditional transaction.
Key outcomes for shareholders:
- 19.9% stake in Avanti Gold now secured
- 72.9 million new Toubani shares issued as consideration
- Up to 36.45 million options may be exercised at $0.60 over the next three years
The share issuance represents dilution to existing shareholders, balanced against the strategic value of securing a significant stake in a Canadian gold explorer. The option exercise price of $0.60 provides a reference point for future potential capital inflows if the options are exercised within the three-year window.
Toubani shareholders now hold indirect exposure to Avanti’s exploration portfolio whilst retaining primary exposure to the Kobada Gold Project development pathway.
Want to explore Toubani’s dual-continent gold exposure?
Toubani has completed its acquisition of a 19.9% stake in Canadian explorer Avanti Gold whilst maintaining focus on the flagship Kobada Gold Project in Africa. This strategic positioning offers shareholders exposure to both African development upside and Canadian exploration optionality through a single ASX listing.
For full details on Toubani’s project pipeline and the completed Avanti transaction, visit the Toubani Resources investor centre. Review the company’s development strategy and how this cross-border stake fits within the broader growth pathway.