AB, Nov. 28, 2023 /CNW/ - Avanti
Helium Corp. (TSXV: AVN) (OTC: ARGYF) ("Avanti" or the
"Company") is pleased to announce an increase in the size of the
previously announced fully subscribed non-brokered private
placement (the "Offering") of units of the Company ("Units"). Due
to increased demand, the size of the Offering has been increased
from 3,000,000 Units to up to 4,685,500 Units at a price of
$0.40 per Unit for aggregate gross
proceeds of up to $1,874,600.
Each Unit will continue to consist of one (1) common share of
the Company (a "Share") and one (1) Share purchase warrant (a
"Warrant"), with each Warrant entitling the holder to purchase one
(1) additional Share (a "Warrant Share") at a price of $0.60 per Warrant Share for a period of
twenty-four (24) months from the date of issuance.
All securities issued under the Offering will be subject to a
hold period of four months and one day in accordance with
applicable securities laws. The Company may pay a finder's fee in
cash and/or warrants under the Offering.
The proceeds of the Offering will be used for various work
related to the Company's Helium Recovery Plant located on the
Sweetgrass Pool in Montana and for
general working capital.
The closing of the Offering is subject to receipt of all
necessary approvals including the TSX Venture Exchange.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in
the United States. The securities
have not been, and will not be, registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act") or
any state securities laws and may not be offered or sold within
the United States or to U.S.
Persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such
registration is available.
About Avanti Helium
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 helium trapped in
structures 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
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: statements relating to the expected timing for
the development of the helium recovery plant and timing estimates
with respect to initial production therefrom, statements relating
to the expected benefits to Avanti from the midstream agreement and
liquefaction tolling agreement, statements relating to obtaining
financing to fund associated infrastructure work for the plant,
risks associated with helium exploration, development, production,
marketing and transportation, volatility in helium prices, risks
relating to the Company's ability to access sufficient capital from
production and external sources, 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. Please see the
public filings of the Company at
www.sedar.com for further information and risks
applicable to the Company.
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
SOURCE Avanti Helium Corp.