19:33:28 EDT Thu 02 May 2024
Enter Symbol
or Name
USA
CA



Avanti Helium Corp
Symbol AVN
Shares Issued 90,522,155
Close 2024-04-04 C$ 0.45
Market Cap C$ 40,734,970
Recent Sedar Documents

Avanti Helium increases private placement to $1.1M

2024-04-04 16:26 ET - News Release

An anonymous director reports

AVANTI HELIUM ANNOUNCES UPSIZE OF PRIVATE PLACEMENT

Avanti Helium Corp. has increased the size of its previously announced non-brokered private placement of units of the company. The size of the offering has been increased from 1.25 million units to up to 2.75 million units at a price of 40 cents per unit, for aggregate gross proceeds of up to $1.1-million.

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 12 months from the date of issuance.

All securities issued under and in connection with 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 finders' fees in cash and/or warrants in respect of the offering.

An insider of the company is expected to participate in the offering, and such participation would be considered to be a related-party transaction as defined under Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company intends to rely on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of MI 61-101 on the basis that the participation in the offering by the insider will not exceed 25 per cent of the fair market value of the company's market capitalization.

The net 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 Helium'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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