Avenira Limited (ASX: $AEV) Operational and Financial Update

Avenira Limited (ASX: $AEV) has successfully completed a capital raising, generating gross proceeds of $1.251 million and net proceeds of $1.193 million. Additionally, the Company has deferred the two remaining USD$750,000 tranches owed under the Licence and Technology Transfer Agreement with Advanced Lithium Electrochemistry Ltd ('Aleees') until 2025.

Executive Commentary on Company's Operations and Finances

Avenira is pleased to announce the successful completion of the capital raising, providing the Company with the necessary working capital to pursue its business objectives. The deferral of the Aleees payments has been agreed upon without imposing any new or additional obligations on Avenira. We remain confident in our ability to meet our business objectives and continue our operations, supported by our successful track record in raising capital as and when required.

Summary of Avenira's Operational and Financial Update

Avenira (ASX: $AEV) has completed a capital raising, securing net proceeds of $1.193 million and deferring the remaining USD$750,000 tranches owed to Aleees until 2025. The Company's primary objective for the next 12 months is to advance the development of the Yellow Phosphorous metal project at Wonarah with strategic partner Sichuan Hebang Biotechnology Corporation Limited. Avenira also anticipates the need for additional capital after the September 2024 quarter and is confident in its ability to raise further capital upon the release of the study on the development of the Yellow Phosphorous metal project. The Company expects to continue its operations and meet its business objectives, having revised its expenditure programs to reduce operating cash outflows and with a successful track record in raising capital as and when required.