THE K2 PRINCIPAL FUND L.P. CEASES TO BE AN INSIDER IN AVANTI GOLD CORP.

TORONTO, June 5, 2024 /CNW/ - The K2 Principal Fund L.P. ("K2") announces on June 3, 2024, it ceases to be an insider of Avanti Gold Corp. ("AGC") due to dilution from AGC issuing 29,000,000 for their acquisition of MTM Ltd.

Prior to the issuance of shares by AGC acquisition, K2 held 6,960,456 common shares representing approximately 14.91% of the issued and outstanding common shares. After the share issuance by AGC, K2 continues to hold 6,960,456 common shares representing approximately 9.20% of the issued and outstanding shares.

Avanti Gold Corp is located at #2380 – 1055 W Hastings Street, Vancouver, BC, V6E 2E9. K2's office is located at 2 Bloor Street West, Suite 801, Toronto, Ontario, M4W 3E2. K2 & Associates Investment Managements Inc. ("K2 & Associates") is the fund manager to The K2 Principal Fund L.P. It was formed under the laws of the Province of Ontario and is engaged in the business of investing in securities.

ABOUT The K2 PRINCIPAL FUND L.P.

Founded in 2000, our flagship fund is a multi-strategy, event-driven fund that invests primarily in the North American equities and debt markets. At K2, we are active managers who employ strategies like: merger arbitrage, long/short, private equity, restructurings and activist investing.

FORWARD LOOKING STATEMENTS

This press release contains forward-looking information within the meaning of applicable securities laws. In general, forward-looking information refers to disclosure about future conditions, courses of action, and events.These statements are based on current expectations of K2 and currently available information.

Forward-looking statements are not guarantees of future performance, involve certain risks and uncertainties that are difficult to predict, and are based upon assumptions as to future events that may not prove to be accurate. K2 undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable securities legislation.

PUBLIC BROADCAST EXEMPTION

This communication is provided in accordance with applicable law.  K2 is relying on the exemption under sections 9.2(4) of National Instrument 51-102 – Continuous Disclosure Obligations to make this public broadcast.

SOURCE The K2 Principal Fund L.P.

For further information and to obtain a copy of the Early Warning Report, please contact: Todd Sikorski, The K2 Principal Fund L.P., [phone]