Skip to main content

A South Korean steel producer has substantially increased its holdings of Avanti Mining Inc. and now owns nearly 13 per cent of the Vancouver-based company's common shares.

SeAH Holdings Corp. of Seoul paid 25.2 cents per common share to buy about 43.6 million additional shares of Avanti on Thursday, as part of a strategic alliance between the two companies announced Dec. 22.

SeAH also obtained the rights to partake in future equity offerings to maintain its proportionate share of the Canadian mining company.

Story continues below advertisement

Avanti plans to use proceeds from the private placement on advancing its Kitsault molybdenum mine in British Columbia.

Report an error
Comments are closed

We have closed comments on this story for legal reasons. For more information on our commenting policies and how our community-based moderation works, please read our Community Guidelines and our Terms and Conditions.

Combined Shape Created with Sketch.

Combined Shape Created with Sketch.

Thank you!

You are now subscribed to the newsletter at

You can unsubscribe from this newsletter or Globe promotions at any time by clicking the link at the bottom of the newsletter, or by emailing us at