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Avanti Energy brings in $465,500 via private placing

Last updated: 02:59 26 Apr 2017 AEST, First published: 17:59 25 Apr 2017 AEST

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The group issued 6.65mln units at 7 cents each for gross proceeds of $465,500, with each unit consisting of one share and one warrant

Onshore oil and gas group Avanti Energy Inc (CVE:AVN) has raised $465,500 after closing the first tranche of its previously announced placing, it said.

The group issued 6.65mln units at 7 cents each  for gross proceeds of $465,500, with each unit consisting of one share and one warrant.

As reported, each warrant shall be exercisable into one  share at 15 cents until April 24, 2018.

In connection with the closing of this tranche, the company issued 21,000 units and paid $1,470, collectively, as finders' fees.