11:43 AM EST, 01/07/2025 (MT Newswires) -- Avanti Helium ( ARGYF ) late on Monday said it increased the size of its non-brokered private placement financing of share units from 5.6-million units to up to 13.4-million units to raise up to $1.2 million, up from its previous $0.5-million target.

The offering is priced at $0.09 per unit, with each unit made up of a share and a three-year warrant to buy an additional share for $0.15.

Avanti chief executive Chris Bakker will subscribe for 2.9-million units for $265,000.

Proceeds will be used for ongoing costs associated with the company's projects and general working capital requirements.

The offering is scheduled to close on Jan. 13 and is subject to the acceptance of the TSX Venture Exchange.

Avanti's shares were last seen up $0.01 to $0.115 on the TSX Venture Exchange.

Price: 0.12, Change: +0.01, Percent Change: +9.52