- Avanti Helium Corp. (AVN) has increased the size of its previously-announced overnight marketed public offering to C$5,499,970
- The company will issue up to 7,857,100 units for C$0.70 per unit
- Proceeds raised will be used to fund exploration drilling on its lands
- Avanti Helium Corp. is focused on the exploration, development, and production of helium across western Canada and the United States
- Avanti Helium Corp. was down 6.667 per cent, trading at $0.70 at 10:56 AM ET
Avanti Helium Corp. (AVN) has increased the size of its previously-announced overnight marketed public offering to C$5,499,970.
This company will now issue up to 7,857,100 units for C$0.70 per unit for gross proceeds of up to $5,499,970. Each unit will consist of one common share in the capital of the company and one-half of one common share purchase warrant.
Each warrant will entitle the holder to acquire one common share of the company for 24 months from the closing of the offering at a price of $1.00.
The company will also grant the agents an option to sell up to an additional 15 per cent of the units sold under the offering at the issue price.
The over-allotment option may be exercised in whole or in part to purchase common shares, warrants or units as determined by the agents upon written notice to the company at any time up to 30 days following the closing date of the offering.
Closing of the offering is expected to occur on or about February 6, 2023.
The company intends to use the proceeds raised from the sale of units to fund exploration drilling on its lands and for general corporate purposes.
Avanti Helium Corp. is focused on the exploration, development, and production of helium across western Canada and the United States.
Avanti Helium Corp. was down 6.667 per cent, trading at $0.70 at 10:56 AM ET.
