An anonymous director reports
AVANTI HELIUM ANNOUNCES UPSIZE OF PRIVATE PLACEMENT
Avanti Helium Corp. has increased the size of the previously announced fully subscribed non-brokered private placement of units of the company. Due to increased demand, the size of the offering has been increased from three million units to up to 4,685,500 units at a price of 40 cents per unit for aggregate gross proceeds of up to $1,874,600.
Each unit will continue to consist of one common share of the company and one share purchase warrant, with each warrant entitling the holder to purchase one additional share at a price of 60 cents per warrant share for a period of 24 months from the date of issuance.
All securities issued under the offering will be subject to a hold period of four months and one day in accordance with applicable securities laws. The company may pay a finder's fee in cash and/or warrants under the offering.
The proceeds of the offering will be used for various work related to the company's helium recovery plant located on the Sweetgrass pool in Montana and for general working capital.
The closing of the offering is subject to receipt of all necessary approvals, including the TSX Venture Exchange.
About Avanti Helium Corp.
Avanti Helium is focused on the exploration, development and production of helium across Western Canada and the United States. Avanti's professional oil and gas exploration and production team is actively targeting helium trapped in structures to help meet the increasing global demand for an irreplaceable and scarce element critical to advanced technology, medical and space exploration industries.
We seek Safe Harbor.
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