Avanti Helium increases financing to $1.5-million

Executive Summary

• Avanti Helium Corp. has upsized its previously announced non-brokered private placement from 4 million units to up to 6 million units.
• The offering is priced at $0.25 per unit, raising aggregate gross proceeds of up to $1.5 million.
• Proceeds will be used for continuing project costs and general working capital, with insiders including CEO Chris Bakker anticipated to participate.

Key Details

• Transaction Type: Non-brokered private placement financing.
• Unit Price: $0.25 per unit.
• Size Increase: Increased from 4 million units to up to 6 million units.
• Gross Proceeds: Up to $1.5 million.
• Warrant Terms: Each unit consists of one common share and one-half share purchase warrant. Each warrant entitles the holder to purchase one additional share at an exercise price of $0.40 per share.
• Warrant Expiry: One year from the date of issue.
• Insider Participation: CEO and director Chris Bakker and other insiders are anticipated to participate in the private placement.
• Use of Proceeds: Continuing costs associated with the company's projects and general working capital requirements.
• Hold Period: All securities issued, including those issuable on exercise, are subject to a hold period of four months and one day from the date of issuance.
• Regulatory Status: Subject to acceptance of the TSX Venture Exchange.
• Finder’s Fees: The company may pay finder’s fees in relation to the offering.