12:06 PM EST, 12/30/2024 (MT Newswires) -- Avanti Helium ( ARGYF ) said on Monday that it is raising $500,000 in a private placement to cover ongoing costs associated with its projects and general working capital requirements.

The offering comprises 5,555,555 units priced at $0.09 apiece. Each unit consists of one share and one warrant. Each warrant is exercisable at $0.15 per share for three years.

Avanti said CEO and director Chris Bakker will subscribe for 2,944,444 units for $265,000 in gross proceeds.

Avanti's share price at last look was up 12.5% to $0.09 in Monday trading.

Price: 0.09, Change: +0.01, Percent Change: +12.50