Avanti Helium announces closing of overnight marketed best efforts public offering of units

Torys acted as counsel to the syndicate of agents led by Canaccord Genuity with a team that included Scott Cochlan, Mike Pedlow, Jon McDonald, Donald Baker and Gordon Walters (corporate/ securities).

On November 10, 2023, Avanti Helium Corp. ("Avanti Helium") announced the closing of its previously announced overnight marketed best efforts public offering of units at a price of C$0.45 per unit, for aggregate gross proceeds of C$3,000,150.

Each unit consists of one common share in the capital of Avanti Helium and one half of one transferable common share purchase warrant, which entitles the holder to purchase one common share at an exercise price of C$0.60 until November 10, 2025.

The offering was conducted on a "best efforts" agency basis by Canaccord Genuity Corp., the lead agent and sole bookrunner, on behalf of a syndicate of agents which included Beacon Securities Limited and Cormark Securities Inc.

The net proceeds from the offering will be used by Avanti Helium to fund the development of the Greater Knappen Property facilities and for general corporate purposes.

Further information can be found on Canada Newswire’s website.

Avanti is focused on the exploration, development, and production of helium across western Canada and the United States. The company’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.