Avante Technologies AVQ -Humidifier through Home Depot Message Board

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Microcap & Penny Stocks : Avante Technologies AVQ -Humidifier through Home Depot

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To: Rory McLeod who wrote (168)	3/8/2000 8:52:00 AM
From: Jerrold Annett	of 183

Avante Technologies Inc AVQ Shares issued 16,475,891 2000-03-06 close $0.25 Tuesday Mar 7 2000 Mr. Neil Werfhorst reports As a result of the increased demands from customers for the company's product, the Desert Spring power humidifier, Avante Technologies intends to obtain funds through a private placement or placements so that it can meet the increased production demands. Details are as follows: some of the private placement transactions may not be arm's length in nature; amount to be raised not to exceed $200,000; the private placement will be for the sale of units; each unit will contain one share and one share purchase warrant. Each unit will cost 18 cents; if the units are fully subscribed for, an additional 1,111,111 shares of Avante will be issued; the share purchase warrants will have the following features: each purchaser will receive one share purchase warrant for each unit purchased; each warrant will provide for the purchase of a further common share for the amount of 35 cents; exercise of each warrant must take place within two years of issuance of the share purchase warrant certificate; share purchase warrants will be non-transferable; if all the warrants are exercised, a further 1,111,111 shares will be issued; each common share has one vote; the proposed purchase price of 18 cents for each unit was determined by the market price and applying the appropriate discount. The exercise price for the share purchase warrants was determined by the directors of the corporation; the private placement is subject to regulatory approval and Avante must file formal application with the Alberta Stock Exchange within 14 calendar days of this press release; the funds generated from the private placement will be used to provide working capital required to fill increased demand from customers for its products. (c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com old url (better for printing)

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