Oleblue
8 months ago
AVANTI HELIUM ANNOUNCES UPSIZE OF PRIVATE PLACEMENT
CNW Group
Thu, Apr 4, 2024, 4:15 PM EDT
CALGARY, AB, April 4, 2024 /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 (the "Offering") of units of the Company ("Units"). The size of the Offering has been increased from 1,250,000 Units to up to 2,750,000 Units at a price of $0.40 per Unit, for aggregate gross proceeds of up to $1,100,000.
Each Unit will continue to consist of one (1) common share of the Company (a "Share") and one (1) Share purchase warrant (a "Warrant"), with each Warrant entitling the holder to purchase one (1) additional Share (a "Warrant Share") at a price of $0.60 per Warrant Share for a period of twelve (12) months from the date of issuance.
All securities issued under and in connection with the Offering will be subject to a hold period of four months and one day in accordance with applicable securities laws. The Company may pay finder's fees in cash and/or Warrants in respect of the Offering.
An insider of the Company (the "Insider") is expected to participate in the Offering, and such participation would be considered to be a "related party transaction" as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company intends to rely on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of MI 61-101 on the basis that the participation in the Offering by the Insider will not exceed 25% of the fair market value of the Company's market capitalization.
The net proceeds of the Offering will be used for various work related to the Company's Helium Recovery Plant located on the Sweetgrass Pool in Montana and for general working capital.
The closing of the Offering is subject to receipt of all necessary approvals including the TSX Venture Exchange.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
https://finance.yahoo.com/news/avanti-helium-announces-upsize-private-201500530.html
Oleblue
9 months ago
AVANTI HELIUM PROVIDES UPDATE ON SWEETGRASS POOL PROJECT
CNW Group
Wed, Jan 31, 2024
CALGARY, AB, Jan. 31, 2024 /CNW/ - Avanti Helium Corp. (TSXV: AVN) (OTC: ARGYF) ("Avanti" or the "Company") is pleased to provide an update on the progress of the Helium Recovery Unit (HRU) at its Sweetgrass pool in Greater Knappen, Montana.
The completion of all ancillary pipelines linking the WNG 11-22 and WNG 10-21 helium wells to the HRU site has been successfully completed. This important milestone marks a significant step forward in the development process, showcasing the Company's commitment to advancing its strategic initiatives.
Additionally, Avanti is pleased report the completion of the fabrication for the well site skids and inlet separation facility. These essential components will soon be transported to the facility site in Montana over the next few weeks.
Avanti's Inlet Separation Facility (CNW Group/Avanti Helium Corp.)
Avanti's Inlet Separation Facility (CNW Group/Avanti Helium Corp.)
The Company remains steadfast in its commitment to driving innovation, ensuring operational excellence, and creating sustainable value for its shareholders. The completion of critical milestones in the HRU development underscore Avanti's resilience and strategic foresight in navigating the dynamic helium landscape. The Company looks forward to updating stakeholders as it further progresses the project.
Avanti also announces that at the 2023 annual general meeting of shareholders (the "2023 AGM"), the shareholders approved amendments to:
the Company's stock option plan, to comply with the policies of the TSX Venture Exchange (the "Exchange"); and
the Company's equity incentive compensation plan (the "EICP"), to increase the maximum number of common shares of the Company ("Common Shares") issuable under the EICP to 8,583,565, representing 10% of the issued and outstanding number of Common Shares as at November 17, 2023, the date of the Company's 2023 AGM, and to comply with the policies of the Exchange.
About Avanti Helium Corp.
Avanti Helium 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, including statements relating to the completion of the financing transaction described herein, including satisfaction of the conditions to closing, statements relating to the expectation that the Company will enter into helium purchase agreement in accordance with the terms of the offtake LOI, the expected use of proceeds from the financing transaction, the expectation that the Company will be able to complete the transactions herein and begin receiving cashflow from the Sweetgrass project in Q2, 2024, and the expected impacts to the Company's business that are disclosed herein which relate to the completion of these transactions. 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: the Company's ability to satisfy the closing conditions for the financing transaction, the Company negotiating and entering into the helium purchase agreement, on terms favorable to the Company, or at all, and timely completion of the infrastructure work, , 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.
https://finance.yahoo.com/news/avanti-helium-provides-sweetgrass-pool-132500285.html
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canthelpit
1 year ago
Based on these results, the Company is pursuing a facility design based on an
inlet production rate of 5 mmcf/d of raw gas, resulting in an estimated
55Mcf/d of net helium. A review of publicly available data shows the first
and second most productive helium wells in Canada are producing at ~60Mcf/d & 55Mcf/d respectfully
************ Avanti Helium signs midstream agreement with IACX ********
By Molly Burgess
on Jul 27, 2023
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NEWS HELIUM
Avanti Helium has signed a binding midstream agreement with IACX Resources Montana, a subsidiary of IAXC Energy, to build, finance, and operate a helium recovery plant to process raw gas from Avanti’s Sweetgrass helium pool.
The helium exploration, development, and production company today (27th July) said it hopes that initial components for the plant will be delivered to the site in Q4 2023, with initial production expected in Q1 2024.
Once operational, the plant is expected to initially process 10 million cubic feet of raw gas a day, with an option to increase production to 15 million cubic feet a day.
Chris Bakker, CEO of Avanti Helium, said that having IACX construct and operate the plant de-risks execution for Avanti.
He added, “We are also pleased to have arrived at fee terms that drastically reduce our need for capital. I would like to thank the entire Avanti team for the huge amount of work done to bring the Company to this tremendously positive turning point.”
Developing the helium recovery plant independently posed a major capex and expertise requirement for Avanti, but through the IACX transaction, and the liquification tolling agreement, the company will have access to the required infrastructure to achieve cashflow in an attractive commercial environment.
Under the terms of the agreement, Avanti will pay a scheduled monthly fee for seven years, with an option to renew annually for the life of the pools.
AG Image for 355436015
IACX will build, finance, install, and operate the helium recovery plant on site near the Sweetgrass helium pool. Avanti Helium will be required to complete minor associated infrastructure work to commence production of the plant.
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CashCowMoo
1 year ago
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