Vancouver, British Columbia / March 4, 2014 / Avanti Energy Inc. (TSX Venture: AVN) (the "Company") is pleased to report that further to the news releases dated January 14 and February 24, 2014 it has closed a non-brokered private placement effective March 3, 2014. The Company issued 7,430,578 common shares at $0.16 (US$0.145) for proceeds of $1,188,892.
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.
At closing, the Company paid Finder's Fees of C$28,639 and U$870 in cash and issued 145,991 warrants each exercisable into one common shares at $0.16 for a term of two years from the date of issuance.
For more information please contact Douglas Ford, CFO at (604) 973-2200. Please visit our website at http://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
Release ID: 34983