CALGARY,
AB, July 30, 2024 /CNW/ - Avanti Helium
Corp. (TSXV: AVN) (OTC: ARGYF) ("Avanti" or the "Company")
is pleased to announce, further to its news release dated
May 15, 2024, that it has issued
1,397,683 common shares of the Company ("Common Shares") at a
deemed price of $0.295 per Common
Share to certain of its creditors (the "Creditors") to settle total
outstanding indebtedness (the "Indebtedness") of $412,316 (the "Debt Settlement"). The
Indebtedness consists of trade payables owed by the Company to the
Creditors. All of the Creditors are at arm's-length to the
Company.
All Common Shares issued pursuant to the Debt Settlement are
subject to a statutory hold period expiring on December 1, 2024, in accordance with applicable
securities laws and the policies of the TSX Venture Exchange.
About Avanti Helium Corp.
Avanti 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.
Forward-Looking Statements
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.