VANCOUVER, BC, Aug. 9, 2021 /CNW/ - Avanti Energy Inc. (TSXV: AVN) (US OTC PINK: ARGYF)(the "Company") is pleased to announce that its common shares are now eligible for electronic clearing and settlement through the Depository Trust Company ("DTC") in the United States. DTC is a subsidiary of the Depository Trust & Clearing Corporation, a U.S. company that manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through DTC are considered to be "DTC eligible". DTC eligibility is expected to simplify the process of trading and enhance liquidity of the Company's common shares in the United States.
"We are pleased to have obtained DTC eligibility," said Chris Bakker, Avanti Energy CEO. "DTC eligibility simplifies the process of trading and transferring Avanti Energy shares between brokerages in the United States and reduces the costs incurred in trading shares. With our shares now DTC eligible, we expect this to lead to greater liquidity and execution speeds, as well as our shares being accessible to an even broader range of investors."
The Company's common shares are listed for trading on the OTC, a U.S. based securities trading system, under the symbol "ARGYF". The Company's shares will continue to be traded on the TSX Venture Exchange ("TSXV") under its existing symbol "AVN".
Avanti is also pleased to announce that it has retained Hybrid Financial Ltd. ("Hybrid") to provide marketing services to the Company, pursuant to a consulting agreement dated July 29, 2021. Hybrid has been engaged to broaden market and brand awareness for Avanti and its helium projects in North America within the investment community (the "Services").
Hybrid has agreed to comply with all applicable securities laws and the policies of the TSX Venture Exchange (the "TSXV") in providing the Services.
Hybrid has been engaged by the Company for an initial period of six-months starting August 9, 2021 (the "Initial Term") and then shall be renewed automatically for successive three-month periods thereafter, unless terminated by the Company in accordance with the Agreement. Hybrid will be paid a monthly fee of $15,000, plus applicable taxes, during the Initial Term.
About Avanti Energy
Avanti Energy 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 untapped potential helium reserves 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.avantienergy.com.
About Hybrid Financial
Hybrid is a sales and distribution company that actively connects issuers to the investment community across North America. Using a data driven approach, Hybrid provides its clients with comprehensive coverage of both American and Canadian markets. Hybrid Financial has offices in Toronto and Montreal.
Forward-Looking Statements
The information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to the Company's limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Avanti Energy Inc.
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