An anonymous director reports
AVANTI HELIUM CLOSES THE FINAL TRANCHE OF PRIVATE PLACEMENT
Avanti Helium Corp. has closed the second and final tranche of its non-brokered private placement of units. The company issued 1.5 million units at a price of 25 cents per unit for aggregate gross proceeds of $375,000 under the second tranche. Together with the first tranche of the offering, the company issued an aggregate of 6,175,000 units for aggregate gross proceeds of $1,543,750 under the offering.
Each unit under the offering will consist of one common share and one-half share purchase warrant, with each warrant entitling the holder to purchase one additional share at a price of 40 cents per share for a period of one year from the date of issue.
The proceeds of the offering will be used for continuing costs associated with the company's projects and general working capital requirements.
All securities issued under the offering, including securities issuable on the exercise thereof, will be subject to a hold period expiring four months and one day from the date of issuance, in accordance with applicable securities laws and the policies of the TSX Venture Exchange. Under the first tranche, the company paid finders a fee of $40,725 and issued 162,900 non-transferable share purchase warrants. The warrants are exercisable at 40 cents per share for a period of one year from the date of issue.
About Avanti Helium Corp.
Avanti 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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