Business
Avanti Helium Announces Closing of Overnight Marketed Best Efforts Public Offering of Units
Avanti Helium Announces Closing of Overnight Marketed Best Efforts Public Offering of Units ...
About this update from Avanti Helium Corp.
[{"type":"text","content":"\n \n \n \n Avanti Helium Announces Closing of Overnight Marketed Best Efforts Public Offering of Units\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n Feb. 6, 2023\n \n \n /CNW/ -\n \n Avanti Helium Corp.\n \n (TSXV: AVN) (OTC: ARGYF) (\"Avanti\" or the \"Company\") is pleased to announce the closing of its previously announced overnight marketed best efforts public offering (the \"Offering\") of units of the Company (\"Units\") at a price of\n \n $0.70\n \n per Unit, for aggregate gross proceeds of\n \n $6,324,965\n \n . Each Unit consists of one common share (a \"Common Share\") in the capital of the Company and one half of one transferable Common Share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant entitles the holder to purchase one Common Share at an exercise price of\n \n $1.00\n \n until\n \n February 6, 2025\n \n . The Agents (as defined below) exercised in full the 15 percent over-allotment option granted to them in conjunction with today's closing of the Offering for a total of 9,035,665 Units sold pursuant to the Offering.\n \n \n Avanti CEO and Director,\n \n Chris Bakker\n \n states, \"We thank the syndicate of agents, new investors, our existing shareholders and insiders for their continued support. The oversubscribed financing underscores the response to the initial estimated 200 Mcf/d of net Helium, and flow rates of the recently announced WNG 10-21 appraisal well. McDaniel & Associates Consultants Ltd. has been commissioned to update the resource estimate for the WNG Helium pool and we are moving forward quickly to advance the development of our Greater Knappen project.\"\n \n \n The Offering was conducted on a \"best efforts\" agency basis by Raymond James Ltd. and Canaccord Genuity Corp., as co-lead agents and joint bookrunners, on behalf of a syndicate of agents (collectively, the \"Agents\"), which included Beacon Securities Limited and Cormark Securities Inc.\n \n \n In connection with the Offering, the Company paid and issued to the...