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AVANTI HELIUM ANNOUNCES PRIVATE PLACEMENT OF UP TO $1,000,000
AVANTI HELIUM ANNOUNCES PRIVATE PLACEMENT OF UP TO $1,000,000 Canada NewsWire ...
About this update from Avanti Helium Corp.
[{"type":"text","content":"\n \n \n \n AVANTI HELIUM ANNOUNCES PRIVATE PLACEMENT OF UP TO $1,000,000\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.prntaj{\nTEXT-ALIGN: JUSTIFY\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 Aug. 21, 2023\n \n \n /CNW/ -\n \n Avanti Helium Corp.\n \n (TSXV: AVN) (OTC: ARGYF) (\"Avanti\" or the \"Company\") is pleased to announce a non-brokered private placement financing of up to 1,666,667 units at a price of\n \n $0.60\n \n per Unit, for total proceeds of up to\n \n $1,000,000\n \n (the \"Offering\").\n \n \n Each Unit under the Offering will consist of one common share and one share purchase warrant (each a \"Warrant\"), with each Warrant entitling the holder to purchase one additional share at a price of\n \n $0.70\n \n per share for a period of one year from the date of issue. The Company may pay a finder's fee in cash and/or warrants under the Offering.\n \n \n Certain directors and officers of the Company are expected to participate in the private placement. Such participation would be considered to be a \"related party transaction\" as defined under Multilateral Instrument 61-101 (\"\n \n MI 61-101\n \n \"). The Offering will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.\n \n \n 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\n \n Montana\n \n , and for general working capital. All securities issued under the Offering, including securities issuable on the exercise thereof, are subject to a hold period expiring four months and one day from the date of issuance.\n \n \n Following the announcement of the agreement for third party construction and ownership of the helium recovery unit (HRU) to produce the\n \n Sweetgrass\n \n discovery (please see press release dated\n \n July 27, 2023\n \n ), Avanti Helium Corp. is now able to aggressively move forward to achieve its commercial production.\n \n \n The HRU solution also moves forward Avanti's discussions for non-dilutive fina...