CALGARY, AB, Jan. 31, 2024 /CNW/ - Avanti Helium Corp. (TSXV: AVN) (OTC: ARGYF) ("Avanti" or the "Company") is pleased to provide an update on the progress of the Helium Recovery Unit (HRU) at its Sweetgrass pool in Greater Knappen, Montana.
The completion of all ancillary pipelines linking the WNG 11-22 and WNG 10-21 helium wells to the HRU site has been successfully completed. This important milestone marks a significant step forward in the development process, showcasing the Company's commitment to advancing its strategic initiatives.
Additionally, Avanti is pleased report the completion of the fabrication for the well site skids and inlet separation facility. These essential components will soon be transported to the facility site in Montana over the next few weeks.
The Company remains steadfast in its commitment to driving innovation, ensuring operational excellence, and creating sustainable value for its shareholders. The completion of critical milestones in the HRU development underscore Avanti's resilience and strategic foresight in navigating the dynamic helium landscape. The Company looks forward to updating stakeholders as it further progresses the project.
Avanti also announces that at the 2023 annual general meeting of shareholders (the "2023 AGM"), the shareholders approved amendments to:
- the Company's stock option plan, to comply with the policies of the TSX Venture Exchange (the "Exchange"); and
- the Company's equity incentive compensation plan (the "EICP"), to increase the maximum number of common shares of the Company ("Common Shares") issuable under the EICP to 8,583,565, representing 10% of the issued and outstanding number of Common Shares as at November 17, 2023, the date of the Company's 2023 AGM, and to comply with the policies of the Exchange.
About Avanti Helium Corp.
Avanti Helium is focused on the exploration, development, and production of helium across western Canada and the United States. Avanti's professional oil and gas exploration and production team is actively targeting helium trapped in structures to help meet the increasing global demand for an irreplaceable and scarce element critical to advanced technology, medical and space exploration industries. For more information, please go to the Company's website at www.avantihelium.com.