Avanti Energy Closes Second Tranche Of Non-Brokered Private Placement; Grants Options.admin
Vancouver, British Columbia, November 25, 2013 – Avanti Energy Inc. (TSX Venture: AVN) (the "Company") is pleased to report that the second tranche of the private placement announced October 10, 2013 has closed effective today. The Company issued 5,281,665 common shares at $0.15 for proceeds of $792,250.
The proceeds from the private placement will be added to the Company’s working capital. Shares acquired by the placees, are subject to a hold period of four months plus one day from the date of closing of the private placement in accordance with applicable Canadian securities legislation.
A Finder’s Fee of 170,000 warrants exercisable at $0.15 for a term of two years from the date of issuance.
The Company has also granted 2,900,000 options to directors, officers and consultants to the Company. The options are exercisable at $0.20 per share for five years.
For more information please contact Douglas Ford, CFO at (604) 973-2200. Please visit our website at www.avantienergy.com.
"John F. McIntyre"
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.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
Posted: November 26th, 2013 under ACCESSWIRE.