Avenira Limited (AU:AEV) has released an update.
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Avenira Limited has announced a strategic investment from Sichuan Hebang Biotechnology, with a two-tranche placement totaling A$4.5 million to fund various study works and provide general working capital. The deal allows Hebang significant influence, including the appointment of an Executive Chairman, two directors, a CEO, and a CFO to Avenira’s management team. If necessary approvals are not secured for the second tranche by the set deadline, Avenira is confident in its ability to secure alternative funding.
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