/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES./
VANCOUVER, BC, Feb. 23,
2022 /CNW/ - Avanti Energy Inc. ("Avanti" or
the "Company") (TSXV: AVN) is pleased to announce that it
has agreed with the syndicate of underwriters, led by Cormark
Securities Inc. and Beacon Securities Limited (collectively, the
"Underwriters"), to increase the size of its previously
announced bought deal public offering of units. The Company will
now issue 7,317,000 units (the "Issued Units") of Avanti at
a price (the "Offering Price") of $1.23 per Issued Unit, for gross proceeds to the
Company of approximately $8,999,910
(the "Offering").
Avanti has granted to the Underwriters an option to purchase
additional units, equal to up to 15% of the number of Issued Units
sold pursuant to the Offering at the Offering Price, for market
stabilization purposes and to cover over-allotments, for a period
expiring 30 days after the date of closing.
The net proceeds of the Offering will be used to fund
exploration drilling on the Company's lands and for general
corporate purposes.
Closing is expected on or about March 15,
2022 and is subject to TSX Venture Exchange and other
necessary regulatory approvals.
Neither the TSX Venture Exchange nor its Regulation Service
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this press release.
About Avanti Energy Inc.
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.
This news release does not constitute an offer to sell, or
the solicitation of an offer to buy securities in any jurisdiction
in which such offer or solicitation would be unlawful prior to
registration or qualification under the securities laws of such
jurisdiction.
The securities described herein have not been, and will not
be, registered under the United States Securities Act of 1933, as
amended (the "Securities Act"), or the securities laws of any state
of the United States, and may not
be offered or sold in the United
States or to, or for the account or benefit of, any U.S.
Person (as defined in Regulation S of the Securities Act) or a
person in the United States,
unless an exemption from such registration requirements is
available.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
INFORMATION
This release includes certain statements that may be deemed
to be "forward-looking statements". All statements in this release,
other than statements of historical facts, that address events or
developments that management of the Company expects, are
forward-looking statements, including statements as to the timing
for closing of the Offering and the use of proceeds of the
Offering. Although management believes the expectations expressed
in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future
performance, and actual results or developments may differ
materially from those in the forward-looking statements. The
Company undertakes no obligation to update these forward-looking
statements if management's beliefs, estimates or opinions, or other
factors, should change. Factors that could cause actual results to
differ materially from those in forward-looking statements, include
market prices, exploration and development successes, continued
availability of capital and financing, and general economic, market
or business conditions. Please see the public filings of the
Company at www.sedar.com for further information.
SOURCE Avanti Energy Inc.