VANCOUVER, BC, July 2, 2021 /CNW/ - Avanti Energy Inc.
(TSXV: AVN) (US OTC PINK: ARGYF) (the "Company") is pleased to
announce an increase to its previously announced non-brokered
private placement (see news release dated June 29, 2021) from 1,765,000 common shares
("Shares") to 2,400,000 shares at $1.70 for gross proceeds of up to $4,080,000 (the "Financing"). The increase
is due to strong investor demand for the Financing.
The securities issued under the Financing will be subject to
restrictions on resale for a period of four months from the date of
issue. The Company may pay finders a fee in cash and/or warrants
under the Financing.
The Company will use the proceeds of the Financing to complete
all of its strategic land acquisitions and drill the initial three
well program starting later this summer or early fall.
About Avanti Energy
Avanti Energy 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. For more information,
please go to the Company's website
at www.avantienergy.com.
Forward-Looking Statements
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: 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.
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
release.
SOURCE Avanti Energy Inc.