Avanti Helium lands up to $10M convertible facility to reach first helium production
What's the deal? Avanti HeliumDealroom has a profile for this one. Try Dealroom → (TSXV: AVN) has secured a secured convertible credit facility with a face value of up to $10 million (C$13.76 million), led by RiverFort Global OpportunitiesDealroom has a profile for this one. Try Dealroom →. The Calgary company plans to use the money to finalise site work and advance its Sweetgrass Project toward commercial helium production.
The terms: The facility consists of up to $8 million (C$11.008 million) of funded capital plus a 20% original issue discount. It remains subject to acceptance by the TSX Venture Exchange and customary closing conditions.
What's the endgame? Avanti is building a North American industrial gas business, with helium supplying the semiconductor, aerospace, healthcare, and defence sectors. It has drilled helium wells, secured a processing plant for transport to site, and signed a foundational offtake agreement.
Why now? Management frames the facility as a long-term capital platform structured to release funds in stages as the business develops. The initial drawdown is expected to fund the final push toward first production.
Chief executive officer Chris Bakker called the financing "a pivotal milestone for Avanti," adding that it "provides the capital we need to deliver first helium production."
RiverFort's head of investments, Liam Bulmer, said the firm funded Avanti because "the Company has a clear, near-term and fully identified path from construction through to production, cash flow and scale."
The signal: The staged, institutional structure marks a step-up from Avanti's earlier funding, signalling investor confidence as the company shifts from exploration to production in a sector where helium remains a scarce, critical input.
Read more: stockwatch.com
Image credit: jurvetson
