Avanti Energy (AVN-V) closes private placement for $1.1-million, due to higher-than-expected demand, Avanti Energy Inc. has increased the size of the financing announced on Jan. 14, 2014
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Feb 4, '14 - NR
Jan. 14 and Feb. 24, 2014, Avanti Energy Inc. has closed a non-brokered private placement, effective March 3, 2014. The company issued 7,430,578 common shares at 16 cents (14.5 U.S. cents) for proceeds of $1,188,892. The proceeds from the private placement will be added to the company's working capital. Shares, acquired by the placees, are subject to a hold period of four months plus one day from the date of closing of the private placement in accordance with applicable Canadian securities legislation. At closing, the company paid finders' fees of $28,639 (Canadian) and $870 (U.S.) in cash and issued 145,991 warrants each exercisable into one common shares at 16 cents for a term of two years from the date of issuance.
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Jan 13, '14 - NR
Avanti Energy Inc. has signed a memorandum of understanding with Sierra Hamilton LLC for the purpose of evaluating opportunities in Brazil. "We are very pleased to be working with Sierra Hamilton's integrated reservoir services division on the evaluation of E and P investments in Brazil," Avanti president John McIntyre said. "Sierra Hamilton's presence in Brazil and deep technology resources in field development, planning and operations, as well as cutting-edge unconventional expertise, will be of key importance to Avanti's efforts."Sierra Engineering and Hamilton Group merged in December, 2013, to form Sierra Hamilton. It is now one of the largest providers of outsourced engineering and on-site supervision services to the oil and gas industry. Sierra Hamilton has a highly experienced and well-established base of independent consultants and has operations across the United States, in South America, the north Atlantic, Africa, Asia and Australia.
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Company presentation
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