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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 UNI...
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 Oct. 24, 2022\n \n \n /CNW/ -\n \n Avanti Helium Corp.\n \n (TSXV: AVN) (OTC: ARGYF) (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 $0.66\n \n per Unit, for aggregate gross proceeds of\n \n $6,440,000\n \n . Each Unit consists of one common share (a \"Common Share\") in the capital of the Company and one transferable Common Share purchase warrant (each, a \"Warrant\"). Each Warrant entitles the holder to purchase one Common Share at an exercise price of\n \n $0.80\n \n until\n \n October 24, 2024\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 9,757,575 Units sold pursuant to the Offering.\n \n \n Avanti Chief Executive Officer and Director,\n \n Chris Bakker\n \n , states, \"We thank the syndicate of agents, new investors, our existing shareholders and insiders for their support via this oversubscribed financing.  Our goal is to move forward with an appraisal well at Greater Knappen, which is a key milestone towards production.\"\n \n \n The Offering was conducted on a \"best efforts\" agency basis by Raymond James Ltd., as lead agent and sole bookrunner, on behalf of a syndicate of agents (collectively, the \"Agents\"), which included Beacon Securities Limited, Cormark Securities Inc. and Haywood Securities Inc.\n \n \n In connection with the Offering, the Company paid and issued to the Agents in aggregate a cash commission of\n \n $450,800\n \n and compensation option units (\"Compensation Option Units\") to purchase up to 683,030 Units (\"Agents Units\"). Each Compensation Option Unit is exercisable to acquire one Agents Unit at an exercise price of...