Quarterly Activities Report for Period Ending 31 March 2024

Avenira Limited (ASX: AEV) (“Avenira” or “the Company”) is pleased to provide its Activities Report for the quarter ending on 31 March 2024 (“the Quarter”).

Highlights

• During the Quarter, Sichuan Hebang Biotechnology Corporation Limited (“Hebang”) was progressing a Scoping Study for the development and operation of the Yellow Phosphorus Plant (“YP”) at Wonarah. The YP Scoping Study will form the basis for Avenira and Hebang to negotiate binding agreements covering the funding, construction and offtake of the YP Project.
• Successful capital raising announced on 18 March 2024 with gross proceeds of $1.251 million and net proceeds to AEV of $1.193 million (Capital Raising).
• The Company repaid the secured convertible loan owed to Au Xingao Investment Pty Limited including principal, interest and costs.

Events Subsequent to the Quarter

• Advanced Lithium Electrochemistry Ltd (“Aleees”) and Avenira agreed to deferral of the two remaining USD$750,000 tranches owing under the License and Technology Transfer Agreement entered into on 26 September 2023 until 1 January 2025 and 1 April 2025.
• Hebang has provided to Avenira a draft executive summary of the YP Scoping Study which is currently under review by Avenira.

Yellow Phosphorus Project

On 4 December 2023, Avenira announced that it had secured a binding strategic equity investment of A$2 million and a non-binding Strategic Cooperation and Offtake Memorandum of Understanding (“MOU”) from Sichuan Hebang Biotechnology Corporation Limited (“Hebang”)¹.

The MOU outlined Hebang’s commitment to contribute to the investment, construction and operation of a Yellow Phosphorous Plant at Wonarah with an initial nameplate capacity of 50ktpa.

The Scoping Study will leverage on Hebang’s extensive experience and capabilities in building, commissioning and operating plants around the world.

Avenira will provide further details regarding the YP Scoping Study upon Hebang and Avenira agreeing to its findings.

Hebang is a company listed on the Shanghai Stock Exchange with over 6,700 employees, that focuses on the manufacture of agricultural (including feed nutrients and herbicides) and photovoltaic products. Its products assist in weed control and increase yields in food crops to feed the world’s growing population, with yellow phosphorus being one of its key ingredients in the manufacturing process.

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