CALGARY, AB, Aug. 30, 2024 /CNW/ - Avanti Helium Corp. (TSXV: AVN) (OTC: ARGYF) ("Avanti" or the "Company") is pleased to announce an upsize in the size of its previously announced non-brokered private placement (the "Offering") of units of the Company ("Units"). The size of the Offering has been increased from 2,000,000 Units to 2,200,000 Units at a price of $0.25 per Unit for aggregate gross proceeds of $550,000 (the "Offering").

Each Unit under the Offering will consist of one (1) common share of the Company (a "Share") and one (1) Share purchase warrant (each a "Warrant"), with each Warrant entitling the holder to purchase one (1) additional Share at a price of $0.30 per Share for a period of one (1) year from the date of issuance.

Chris Bakker, the Chief Executive Officer and a director of the Company (the "Insider") will subscribe for, directly and indirectly, 2,000,000 Units, 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 proceeds of the Offering will be used for ongoing costs associated with the Company's projects and general working capital requirements.

All securities issued under the Offering, including securities issuable on the exercise thereof, will be subject to a hold period expiring four (4) months and one (1) day from the date of issuance, in accordance with applicable securities laws and the policies of the TSX Venture Exchange (the "Exchange").

The Offering is subject to the acceptance of the Exchange.

About Avanti Helium Corp.

Avanti 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.