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Vancouver, British Columbia, February 24, 2014 - Avanti Energy Inc. (TSX Venture: AVN) (the “Company”) announced today that due to higher than expected demand; the Company has increased the size of the financing announced on January 14, 2014. Within the next two days, the Company will issue up to 7,450,000 common shares of the Company at a price of US$0.145 (C$0.16) per share for gross proceeds of approximately US$1,080,025 and/or the Canadian dollar equivalent.
The placement is expected to be completed on or before February 26, 2014. The private placement is subject to receipt of applicable regulatory approvals including final approval of the TSX Venture Exchange. Securities issued under the placement will be subject to a four month hold period which will expire four months from the date of closing. The proceeds from the placement will be used for general working capital purposes.
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.