CALGARY,
AB, Sept. 13, 2022 /CNW/ - Avanti Helium
Corp. (TSXV: AVN) (OTC: ARGYF) ("Avanti" or the "Company")
is pleased to announce a non-brokered private placement
financing of up to 2,222,222 units at a price of $0.90 per Unit for gross proceeds of up to
$2,000,000 (the
"Offering").
Each Unit under the Offering will consist of one common share
and one share purchase warrant (each a "Warrant"), with each
Warrant entitling the holder to purchase one additional share at a
price of $1.20 per share for a period
of one year from the date of issue. The Company may pay a
finder's fee in cash and/or warrants under the Offering.
Certain directors and officers of the Company are expected to
participate in the private placement. Such participation
would be considered to be a "related party transaction" as defined
under Multilateral Instrument 61-101 ("MI 61-101"). The
Offering will be exempt from the formal valuation and minority
shareholder approval requirements of MI 61-101.
Proceeds from the Offering will be used for drill programs on
the Company's helium properties and for general working capital.
All securities issued under the Offering, including securities
issuable on the exercise thereof, are subject to a hold period
expiring four months and one day from the date of issuance.
The Offering is subject to the acceptance of the TSX Venture
Exchange.
About Avanti Helium
Avanti Helium 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.avantihelium.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 Helium Corp.