Avenira secures $2.79 million unsecured loan facility from Hebang

Avenira Limited (ASX:AEV) has executed a loan agreement with its largest shareholder, Sichuan Hebang Biotechnology Corporation Limited, for a $2.79 million unsecured loan facility. The purpose of the loan is to ensure the Company has sufficient funds to progress the development of the Wonarah project while awaiting shareholder and regulatory approvals for the Tranche 2 placement.

Executive commentary on the loan agreement

We are pleased to complete the next step in the investment process with Hebang as outlined in the announcement on 30 July 2024. I'm looking forward to increasing our collaboration with Hebang as we work together to drive Avenira's growth and enhance shareholder value. - Avenira Deputy Chairman, Brett Clark. Our ongoing strategic partnership with Avenira continues to strengthen, underscoring Hebang's long-term commitment to the company's growth. We are confident that this financial support will drive the development of Avenira's Wonarah project. Hebang remains fully invested in Avenira's success, and we look forward to deepening our collaboration as the project advances. - Mr Zhenggang He, Actual Controller - Sichuan Hebang Biotechnology Co., Ltd.

Summary of Avenira's unsecured loan facility from Hebang

Avenira Limited (ASX:AEV) has secured a $2.79 million unsecured loan facility from its largest shareholder, Sichuan Hebang Biotechnology Corporation Limited, to ensure funds for the development of the Wonarah project while awaiting shareholder and regulatory approvals for the Tranche 2 placement. The company's directors are confident in the ability to raise additional funds through various methods if required approvals are not obtained. Avenira's collaboration with Hebang is expected to drive the company's growth and enhance shareholder value, with Hebang expressing long-term commitment to Avenira's success and the development of the Wonarah project.