Avanti Energy Inc. announced that it has amended the terms of the purchase and sale agreement with Dove Energy B.V. for the purchase of CMI Energia SpA as announced on January 6, 2015. The revised terms have facilitated Avanti's leveraging of the CMI assets to finance the acquisition and to secure a carried interest through the field development permitting. Upon the closing of the transaction, the Board of Directors of Avanti will appoint Mr. Mario Panebianco as an additional director.

Mr. Panebianco is the principal owner of Dove and a recognized oil and gas professional and resident in Italy. Through a separate company, Mr. Panebianco owns the remaining 10% working interest in the project.