VANCOUVER, BC, Sept. 3, 2021 /CNW/ - Avanti Energy
Inc. (TSXV: AVN) (OTCPINK: ARGYF) (the "Company") is pleased to
announce it plans to undertake a non-brokered private placement
financing (the "Offering") to a single, strategic subscriber to
raise gross proceeds of $1,500,000
from the sale of 882,353 common shares ("Shares") of the Company at
a price of $1.70 per common
share.
Chris Bakker, Avanti CEO,
commented, "We are delighted to welcome this strategic investor at
such a pivotal time for Avanti. With this investment, the
Company is well-positioned to advance our helium properties in
North America. As we move towards our maiden drill program
this fall, we have the capital to unlock value for our
shareholders."
The securities issued under the Offering will be subject to
restrictions on resale for a period of four months from the date of
issue.
The proceeds of the Offering will be used for drilling
activities starting 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.