Avanti Helium Corp. has entered into a definitive investment agreement with RiverFort Global Opportunities PCC Ltd. for a secured convertible credit facility with an aggregate face value of up to US$10 million, subject to TSX Venture Exchange acceptance.

The initial drawdown provides US$5 million in face value, delivering US$3.652 million in net funding after a 20% original issue discount, a US$300,000 implementation fee, and C$65,000 in professional fees. Subsequent drawdowns require mutual written agreement.

Funded portions carry a fixed conversion price set at a 40% premium to the greater of the five-day volume-weighted average price and market price. For the initial tranche, this yields a conversion price of C$0.756, making up to 6,648,412 common shares issuable alongside 6,370,370 detachable warrants exercisable at C$0.54 for three years. Each drawdown carries an 18-month maturity, with monthly repayments of US$384,615 starting after a six-month grace period. No interest accrues.

“This financing is a pivotal milestone for Avanti and provides the capital we need to deliver first helium production.” — Chris Bakker, Chief Executive Officer

Initial capital is earmarked to finalize site work and complete remaining activities at the Sweetgrass Project. Avanti Helium expects to close the initial drawdown and transport its disassembled processing plant to site while wrapping up final permitting.

Construction planning for the plant lease, well tie-ins, and gathering system is advancing alongside power infrastructure finalisation with the local utility, moving the project efficiently into detailed engineering, procurement, and construction ahead of targeted first helium output.

“We are pleased to support Avanti with a structured financing solution as the Company advances the Sweetgrass Project toward commercial production.” — Liam Bulmer, Head of Investments at RiverFort

These development steps position the company to move efficiently into construction and support the path to commercial helium production.

Read the full announcement: Avanti Helium Secures Up to US $10 Million Institutional Growth Financing To Support Its Transition Into Commercial Helium Production And Long-Term Expansion