CALGARY,
AB, Jan. 6, 2025 /CNW/ - Avanti Helium
Corp. (TSXV: AVN) (OTC: ARGYF) ("Avanti" or the "Company")
is pleased to announce an increase in the size of the previously
announced non-brokered private placement financing (the "Offering")
of units of the Company ("Units") at a price of $0.09 per Unit. The size of the Offering has been
increased from 5,555,555 Units to up to 13,363,333 Units for
aggregate gross proceeds of up to $1,202,700.
Each Unit under the Offering will consist of one
(1) common share of the Company (each, a "Share") and one (1) Share
purchase warrant (each, a "Warrant"), with each Warrant entitling
the holder to purchase one (1) additional Share at a price of
$0.15 per Share for a period of three
(3) years from the date of issue.
Chris Bakker, the
Chief Executive Officer and a director of the Company, will
subscribe for 2,944,444 Units for gross proceeds of $265,000, and such participation will be
considered a "related party transaction" as defined under
Multilateral Instrument 61-101 - Protection of Minority Security
Holders in Special Transactions ("MI 61-101"). The Company
expects to be exempt from the requirement to obtain a formal
valuation and minority shareholder approval in connection with Mr.
Bakker's participation in the Offering in reliance of Sections
5.5(a) and 5.7(a) of MI 61-101, respectively, on the basis that Mr.
Bakker's participation in the Offering is not expected to exceed
25% of the fair market value of the Company's market
capitalization.
The net proceeds of the Offering will be used for
ongoing costs associated with the Company's projects and general
working capital requirements.
The Company may pay a finder's fee in cash and/or
securities of the Company in connection with the
Offering.
All securities issued under or in connection with
the Offering, including securities issuable on the exercise
thereof, are subject to a hold period expiring four (4) months and
one (1) day from the date of issuance.
The closing of the Offering is expected to occur
on or about January 13, 2025 and is
subject to the acceptance of the TSX Venture Exchange.
This news release does not constitute an offer of
securities for sale in the United
States. The securities being offered have not been, nor will
they be, registered under the United States Securities Act of 1933,
as amended (the "U.S. Securities Act") or any applicable state
securities laws. Such securities may not be offered or sold
within the United States except
pursuant to an effective registration statement under the U.S.
Securities Act and the securities laws of any applicable state in
the United States or pursuant to
an available exemption from the registration requirements
thereof.
About Avanti Helium Corp.
Avanti 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 helium trapped in
structures 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: statements
relating to the expected timing for the development of the helium
recovery plant and timing estimates with respect to initial
production therefrom, statements relating to the expected benefits
to Avanti from the midstream agreement and liquefaction tolling
agreement, statements relating to obtaining financing to fund
associated infrastructure work for the plant, risks associated with
helium exploration, development, production, marketing and
transportation, volatility in helium prices, risks relating to the
Company's ability to access sufficient capital from production and
external sources, 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. Please see the public filings of the Company
at www.sedarplus.ca for further information and
risks applicable to the Company.
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.