AVANTI HELIUM ANNOUNCES UPSIZE OF PRIVATE PLACEMENT

CALGARY, AB, April 4, 2024 /CNW/ - Avanti Helium Corp. (TSXV: AVN) (OTC: ARGYF) ("Avanti" or the "Company") is pleased to announce an increase in the size of the previously announced non-brokered private placement (the "Offering") of units of the Company ("Units").  The size of the Offering has been increased from 1,250,000 Units to up to 2,750,000 Units at a price of $0.40 per Unit, for aggregate gross proceeds of up to $1,100,000. 

Each Unit will continue to consist of one (1) common share of the Company (a "Share") and one (1) Share purchase warrant (a "Warrant"), with each Warrant entitling the holder to purchase one (1) additional Share (a "Warrant Share") at a price of $0.60 per Warrant Share for a period of twelve (12) months from the date of issuance. 

All securities issued under and in connection with the Offering will be subject to a hold period of four months and one day in accordance with applicable securities laws. The Company may pay finder's fees in cash and/or Warrants in respect of the Offering.

An insider of the Company (the "Insider") is expected to participate in the Offering, and such participation would be considered to be a "related party transaction" as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company intends to rely on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of MI 61-101 on the basis that the participation in the Offering by the Insider will not exceed 25% of the fair market value of the Company's market capitalization.

The net proceeds of the Offering will be used for various work related to the Company's Helium Recovery Plant located on the Sweetgrass Pool in Montana and for general working capital.

The closing of the Offering is subject to receipt of all necessary approvals including the TSX Venture Exchange.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Avanti Helium is focused on the exploration, development, and production of helium across western Canada and the United States. Avanti's professional oil and gas exploration and production team is actively targeting helium trapped in structures to help meet the increasing global demand for an irreplaceable and scarce element critical to advanced technology, medical and space exploration industries. For more information, please go to the Company's website at www.avantihelium.com.

The information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: statements relating to the expected timing for the development of the helium recovery plant and timing estimates with respect to initial production therefrom, statements relating to the expected benefits to Avanti from the midstream agreement and liquefaction tolling agreement, statements relating to obtaining financing to fund associated infrastructure work for the plant, risks associated with helium exploration, development, production, marketing and transportation, volatility in helium prices, risks relating to the Company's ability to access sufficient capital from production and external sources, risks  and uncertainties relating to the Company's limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.  Please see the public filings of the Company at www.sedarplus.ca for further information and risks applicable to the Company.

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

SOURCE Avanti Helium Corp.