Avanti Helium closes $1.16M first tranche of financing

Executive Summary

• Avanti Helium Corp. closed the first tranche of its non‑brokered private placement, issuing 4,675,000 units at $0.25 per unit for gross proceeds of $1,168,750.
• CEO Chris Bakker subscribed for 1.76 million units ($440,000), representing a related‑party transaction but remaining below the 25 % threshold under MI 61‑101.
• Proceeds will fund ongoing project costs and general working capital; the offering includes share purchase warrants exercisable at $0.40 per share for one year.

Key Details

• Units Issued: 4,675,000 units @ $0.25 each → Gross proceeds: $1,168,750.
• Unit Composition: 1 common share + ½ share purchase warrant per unit.
• Warrant Terms: Each warrant allows purchase of one additional share at $0.40 per share; exercisable for one year from issuance.
• Related‑Party Subscription: CEO Chris Bakker purchased 1,760,000 units (1,760,000 shares + 880,000 warrants) for $440,000.
• Ownership Impact – Pre‑Closing:
• 10,986,424 shares, 6,848,694 warrants, 1,712,000 options → ~9.63 % non‑diluted, ~15.94 % partially diluted.
• Ownership Impact – Post‑Closing:
• 12,746,424 shares, 7,728,694 warrants, 1,712,000 options → ~10.74 % non‑diluted, ~17.31 % partially diluted.
• Finder’s Fee: $37,725 paid to finders under the first tranche.
• Additional Warrants Issued: 150,900 non‑transferable share purchase warrants (exercisable at $0.40 per share).
• Hold Period: All securities (including exercisable warrants) subject to a hold period of four months and one day from issuance, per TSX Venture Exchange rules.
• Use of Proceeds: Funding continuing project costs and general working capital requirements.
• Future Tranches: Remaining tranche(s) expected to close shortly, pending exchange acceptance.

Notable Quotes

(No direct quotes were provided in the release.)