07:53 AM EDT, 08/30/2024 (MT Newswires) -- Avanti Helium ( ARGYF ) on Friday said it is increasing the size of its non-brokered private placement by 200,000 units to 2.2 million units in a transaction that will raise $550,000.

The units will be priced at $0.25 each with proceeds to be used for project costs and general working capital requirements. CEO Chris Bakker will subscribe for 2 million units.

Each unit will consist of one share and one 12-month warrant to buy another share for $0.30.

Avanti shares closed down 4.2% on Thursday to close at $0.23.