Business
AVANTI HELIUM CLOSES THE FIRST TRANCHE OF PRIVATE PLACEMENT
AVANTI HELIUM CLOSES THE FIRST TRANCHE OF PRIVATE PLACEMENT Canada NewsWire ...
About this update from Avanti Helium Corp.
[{"type":"text","content":"\n\n\n\n AVANTI HELIUM CLOSES THE FIRST TRANCHE OF PRIVATE PLACEMENT\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 Sept. 26, 2025\n \n\n /CNW/ -\n \n Avanti Helium Corp.\n \n (TSXV: AVN) (OTC: ARGYF) (\"Avanti\" or the \"Company\") is pleased to announce it has closed the first tranche (the \"First Tranche\") of its previously announced non-brokered private placement (the \"Offering\") of units of the Company (\"Units\") by issuing 4,675,000 Units at a price of\n \n $0.25\n \n per Unit for aggregate gross proceeds of\n \n $1,168,750\n \n .\n \n\n Each Unit under the Offering will consist of one common share and one-half share purchase warrant (\"Warrant\"), with each Warrant entitling the holder to purchase one additional share at a price of\n \n $0.40\n \n per share for a period of one year from the date of issue.\n \n\n\n Chris Bakker\n \n , the Chief Executive Officer and a director of the Company (\"Bakker\") subscribed for, directly and indirectly, an aggregate of 1,760,000 Units, which were subscribed for and purchased in the First Tranche, and such participation is and would be considered to be a \"related party transaction\" as defined under Multilateral Instrument 61-101 -\n \n Protection of Minority Security Holders in Special Transactions\n \n (\"MI 61-101\"). The Company relied on and intends to continue to rely on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of MI 61-101 on the basis that the participation in the Offering by Bakker will not exceed 25% of the fair market value of the Company's market capitalization.\n \n\n The proceeds of the Offering will be used for ongoing costs associated with the Company's projects and general working capital requirements.\n \n\n All securities issued under the Offering, including securities issuable on the exercise thereof, will be subject to a hold period expiring four (4) months and one (1) day from the date of issuance, in accordance with applicable securities laws a...