Vancouver, B.C., July 2, 2021 – Avanti Energy Inc. (TSXV: AVN) (US OTC PINK: ARGYF) (the “Company”) is pleased to announce an increase to its previously announced non-brokered private placement (see news release dated June 29, 2021) from 1,765,000 common shares (“Shares”) to 2,400,000 shares at $1.70 for gross proceeds of up to $4,080,000 (the “Financing”). The increase is due to strong investor demand for the Financing.
The securities issued under the Financing will be subject to restrictions on resale for a period of four months from the date of issue. The Company may pay finders a fee in cash and/or warrants under the Financing.
The Company will use the proceeds of the Financing to complete all of its strategic land acquisitions and drill the initial three well program starting later this summer or 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.