Avanti Helium arranges $1-million private placement

Executive Summary

• Avanti Helium Corp. has arranged a private placement offering of 4,000,000 units at $0.25 per unit, generating gross proceeds of $1,000,000.
• Each unit consists of one common share and one-half share purchase warrant, with warrants exercisable at $0.40 per share for one year.
• Proceeds are designated for continuing project costs and general working capital, with insiders including CEO Chris Bakker anticipated to participate.

Key Details

• Structure: Private placement of 4,000,000 units.
• Price: $0.25 per unit.
• Gross Proceeds: $1,000,000.
• Unit Composition: Each unit comprises one common share and one-half share purchase warrant.
• Warrant Terms: 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 offering.
• 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 by the TSX Venture Exchange.
• Fees: The company may pay finders' fees in relation to the offering.

Notable Quotes

• None provided in the text.