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Avanti Helium Announces Upsize of Previously Announced Overnight Marketed Best Efforts Public Offering of Units
Avanti Helium Announces Upsize of Previously Announced Overnight Marketed Best Efforts Pu...
About this update from Avanti Helium Corp.
[{"type":"text","content":"\n \n \n \n Avanti Helium Announces Upsize of Previously Announced 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. 18, 2022\n \n \n /CNW/ -\n \n Avanti Helium Corp.\n \n (TSXV: AVN) (OTC: ARGYF) (\"Avanti\" or the \"Company\"), is pleased to announce an increase in the previously announced overnight marketed best efforts public offering (the \"Offering\") of units of the Company (\"Units\"). Due to increased demand, the Offering, which is being conducted on a \"best efforts\" agency basis, has been increased up to 8,484,848 Units at a price of\n \n $0.66\n \n per Unit for aggregate gross proceeds of up to\n \n $5,600,000\n \n .\n \n \n Each Unit will consist 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 will entitle the holder to purchase one Common Share at an exercise price of\n \n $0.80\n \n for 24 months from the date of issuance.\n \n \n The Offering is expected to be completed pursuant to the terms and conditions of an agency agreement to be entered into between the Company, Raymond James Ltd., as lead agent and sole bookrunner, and a syndicate of agents (collectively, the \"Agents\"), which includes Beacon Securities Limited, Cormark Securities Inc. and Haywood Securities Inc.\n \n \n The Agents, in their sole discretion, will have an option to offer for sale up to an additional 15% of the aggregate number of Units sold pursuant to the Offering, on the same terms of the Offering, for market stabilization purposes and to cover overallotments, exercisable in whole or in part within 30 days following the date of closing of the Offering (the \"Over-Allotment Option\"), for additional gross proceeds of up to\n \n $840,000\n \n . The Over-Allotment Option may be in the form of Units only, Common Shares only, Warrants only, or any combination thereof.\n \n \n Closing of the Offering is expected to occur on or about\n \n Oct...