AVANTI INCREASES PRIVATE PLACEMENT TO RAISE UP TO $700,000

Thursday April 13, 2017

AVANTI INCREASES PRIVATE PLACEMENT

TO RAISE UP TO $700,000

- director Panebianco resigns

 

 

 

Vancouver, British Columbia, April 13, 2017 Avanti Energy Inc. (TSXV: AVN) (“Avanti” or the “Company”) has increased the previously announced non-brokered private placement of units to now raise up to $700,000. Proceeds of the offering will be used for general working capital purposes.

 

The private placement Offering will be by way of a subscription agreement of up to 10,000,000 units $0.07 per unit (“Units”). Each Unit shall consist of one common share and one common share purchase warrant. Each warrant shall be exercisable into one common share of the Issuer at a price of $0.15 for the period of twelve (12) months.

 

Avanti may pay a Finder’s Fee in connection with the Offering. Closing of the private placement is expected to take place by April 21, 2017.

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.

The Company also announces the resignation from the Board of Directors of Mrr. Mario Panebianco. Karl Kottmeier, president, commented: “I would like to thank Mario for his service to the board, the Company and to all shareholders. We wish him well in his future endeavors.

For more information regarding the Company please contact Kirk Gamley, corporate communications, at 604-689-7422.  Please visit the Company’s website www.avantienergy.com for a full corporate profile.

 

 

 

“Karl Kottmeier”                                                                                                                                       

President, CEO         

 

 

 

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.


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