Vancouver, B.C., September 3, 2021 – Avanti Energy Inc. (TSXV: AVN) (US OTC PINK: ARGYF) (the “Company”) is pleased to announce it plans to undertake a non-brokered private placement financing (the “Offering”) to a single, strategic subscriber to raise gross proceeds of $1,500,000 from the sale of 882,353 common shares (“Shares”) of the Company at a price of $1.70 per common share.
Chris Bakker, Avanti CEO, commented, “We are delighted to welcome this strategic investor at such a pivotal time for Avanti. With this investment, the Company is well-positioned to advance our helium properties in North America. As we move towards our maiden drill program this fall, we have the capital to unlock value for our shareholders.”
The securities issued under the Offering will be subject to restrictions on resale for a period of four months from the date of issue.
The proceeds of the Offering will be used for drilling activities starting early fall.
About Avanti Energy
Avanti Energy is focused on the exploration, development and production of helium across western Canada and the United States. Avanti’s professional oil and gas exploration and production team is actively targeting untapped potential helium reserves to help meet the increasing global demand for an irreplaceable and scarce element critical to advanced technology, medical and space exploration industries. For more information, please go to the Company’s website at www.avantienergy.com.
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Avanti Energy Inc.
The information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Such factors include, among other things: risks and uncertainties relating to the Company’s limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.