AVANTI ENERGY CORPORATE UPDATE

Thursday January 21, 2016

Vancouver, British Columbia – January 21th, 2016: Avanti Energy Inc. (TSX-V: AVN) (“Avanti” or the “Company”) is pleased to provide shareholders with a general corporate update.

Management and Board

The Company is pleased to announce that Mr. John McIntyre has accepted the position of Chairman of the Board of Director. John has served the Company well as President and CEO and will continue his involvement with the Company in the new role of Chairman. John commented, “The gas marketing agreement we announced on December 10, 2015, underscores for investors the viability of the Colle Santo project and I am pleased to report that the technical work necessary to file the production permit application is now nearing completion. This is a very exciting time for Avanti shareholders and all stakeholders in this process.”

Mr. Karl Kottmeier has accepted the position of President and CEO. Karl has over 20 years’ experience in corporate finance and administration and has raised over $125 million for resource companies over that period.

Karl commented, “I am pleased to accept the new role as president and CEO of Avanti. I have been closely involved with the Company since its inception and I am excited to work with management and the board to advance the Colle Santo gas project from the impending submission of the production permit application through to the successful receipt of the final permit from the Italian authorities. Colle Santo is a truly unique and highly significant project that I believe holds tremendous value for shareholders.”

The Company is pleased to welcome a new board member, Mr. David Leishman. Dave brings a wealth of experience and contacts to the Avanti board, the results of a long and successful career in institutional sales and retail brokerage with a number of Canadian investment firms, most recently with Canaccord Capital in Vancouver.

Colle Santo Project, Italy

The Company and its working interest partners are now nearing completion of the process of producing and amalgamating the required reports to make the formal submission to the appropriate Italian authorities to ultimately obtain the final production permits for the Colle Santo Gas project.

While obtaining the final permit is not guaranteed and more work may be required, Avanti management, its partners and industry consultants are confident that a positive outcome in a timely manner will be achieved and with the permit granted, the substantial value of the Colle Santo project will be unlocked.

Financing

On January 18th the Company announced a non-brokered private placement to raise up to $500,000 for general working capital. The Company will issue up to 5,000,000 units at $0.10 CDN. 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.

For more information please contact Kirk Gamley at (604) 678 8941.  Please visit our website at www.avantienergy.com.

 

 

”Karl Kottmeier”                                                                                                                                       

President, CEO         

 

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.


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