VANCOUVER, BC / ACCESSWIRE / February 4, 2016 / Avanti Energy Inc. (TSXV: AVN) ("Avanti" or the "Company") is pleased to announce that effective February 4, 2016, the Company has closed the first tranche of the private placement announced January 18, 2016.
Avanti has issued 1,350,000 Units at $0.10 per Unit [US$0.07] for proceeds of $135,000. Each Unit is comprised of one common share and one-half of one transferable share purchase warrant. Each whole warrant is exercisable into one common share at $0.15 per share until February 4, 2017. All securities issued under the placement are subject to a four month hold period, in accordance with applicable securities regulations. The Company expects to close the final tranche of the private placement within thirty days.
Option Grant
Pursuant to the Company's Stock Option Plan, Avanti has granted options to eligible plan participants, to acquire 3,025,000 common shares at $0.12 per share.
For more information regarding the Company please contact Kirk Gamley, corporate communications, at 604-689-7422.
"Karl Kottmeier"
President and Chief Executive Officer
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.
SOURCE: Avanti Energy Inc.