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Avanti Energy Raises C$5mm in Equity Towards Exploration

Avanti Energy Inc. has entered into an agreement with a syndicate of investment dealers that have agreed to purchase, on a bought deal basis, 4,065,000 units of Avanti at a purchase price of CAD 1.23 per Unit (gross proceeds of ~CAD 5 million). Each Unit will consist of one common share of Avanti and one-half of one common share purchase warrant - each full Warrant exercisable to acquire one common share of Avanti at a purchase price of $1.60 for a period of 2 years. The net proceeds of the Offering will be used to fund exploration drilling on the Company's lands and for general corporate purposes.

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