VANCOUVER, BC / ACCESSWIRE / January 18, 2016 / Avanti Energy Inc. (TSXV: AVN) ("Avanti" or the "Company") is undertaking a non-brokered private placement to raise up to $500,000 through the issuance of up to 5,000,000 Units of the Company at a price of CDN $0.10 or US$0.07 per Unit.
Each Unit will consist of one common share and one half of one common share purchase warrant (a "Warrant"). Each such Warrant will entitle the holder to purchase one common share of the Company for a period of twelve months from the closing date at a price of $0.15 per common share.
The Company may pay finder's fees in connection with the Offering.
The placement is anticipated to close in two or more tranches and is expected to be completed on or before March 1, 2016. The private placement is subject to receipt of applicable regulatory approvals including approval of the TSX Venture Exchange. Securities issued under the placement will be subject to a four month hold period which will expire four months from the date of closing.
The proceeds from the placement will be used for general working capital purposes.
For more information please contact:
Kirk Gamley, Director at (604) 678 8941
Please visit our website at www.avantienergy.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
SOURCE: Avanti Energy Inc.