Avanti Helium Upsizes Private Placement to C$1.8mm; Q3'23 Results
- AKAP
- Nov 28, 2023
- 2 min read
Avanti Helium increased its previously announced private placement offering to accommodate increased demand. The offering, initially set at 3mm units, was raised to 4.7mm units at a price of C$0.40/unit and will generate aggregate gross proceeds of up to C$1.8.mm Each unit includes one share and one purchase warrant at C$0.60/share for 24 months. The funds will be used for the Helium Recovery Plant in Montana and general working capital needs. Avanti also reported Q3'23 results ending the quarter with a net loss of C$1mm, cash position of C$0.26mm, and total assets of C$32mm.