16:07:34 EDT Fri 24 May 2024
Enter Symbol
or Name
USA
CA



Avanti Helium Corp
Symbol AVN
Shares Issued 58,223,382
Close 2022-10-18 C$ 0.60
Market Cap C$ 34,934,029
Recent Sedar Documents

Avanti Helium increases private placement to $5.6M

2022-10-18 17:18 ET - News Release

Mr. Chris Bakker reports

AVANTI HELIUM ANNOUNCES UPSIZE OF PREVIOUSLY ANNOUNCED OVERNIGHT MARKETED BEST EFFORTS PUBLIC OFFERING OF UNITS

Avanti Helium Corp. has increased the previously announced overnight marketed best efforts public offering of units of the company. 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 66 cents per unit for aggregate gross proceeds of up to $5.6-million.

Each unit will consist of one common share in the capital of the company and one transferable common share purchase warrant. Each warrant will entitle the holder to purchase one common share at an exercise price of 80 cents for 24 months from the date of issuance.

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, which includes Beacon Securities Ltd., Cormark Securities Inc. and Haywood Securities Inc.

The agents, in their sole discretion, will have an option to offer for sale up to an additional 15 per cent 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, for additional gross proceeds of up to $840,000. The overallotment option may be in the form of units only, common shares only, warrants only or any combination thereof.

Closing of the offering is expected to occur on or about Oct. 24, 2022, and is subject to a number of conditions, including without limitation, receipt of all regulatory approvals, including the approval of the TSX Venture Exchange and the securities regulatory authorities. The proceeds raised from the sale of units under the offering are expected to be used by the company to finance exploration drilling on the company's lands and for general corporate purposes.

About Avanti Helium Corp.

Avanti Helium 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.

We seek Safe Harbor.

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