AVANTI CLOSES SECOND TRANCHE OF NON-BROKERED PRIVATE PLACEMENT

Monday March 14, 2016

Vancouver, British Columbia, March 14, 2016 Avanti Energy Inc. (TSXV: AVN) (“Avanti” or the “Company”) is pleased to announce that effective March 11, 2016, the Company has closed the second tranche of the private placement announced January 18, 2016.

 

In the second tranche, Avanti has issued 2,550,000 Units at $0.10 per Unit [US$0.07] for proceeds of $255,000. Each Unit is comprised of one common share and one-half of one transferable share purchase warrant.  Each whole warrant is exercisable into one common share at $0.15 per share until March 11, 2017.  All securities issued under the placement are subject to a four month hold period, in accordance with applicable securities regulations.  The Company expects to close a final tranche of the private placement within thirty days.

 

In connection with the second tranche, finder’s fees of $2100 were paid.

 

For more information regarding the Company please contact Kirk Gamley, corporate communications, at 604-689-7422. 

 

 

 

“Karl Kottmeier”                                                                                                                                       

President and Chief Executive Officer        

 

 

 

 

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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