Avenira Limited (ASX: AEV) ('Avenira' or 'Company') wishes to advise that the pro-rata nonrenounceable entitlement offer to existing eligible shareholders to raise approximately $1.45 million ('Entitlement Offer') which closed on 21 April 2022 was fully subscribed.

The funds raised under the Entitlement Offer will be used to advance Avenira's phosphate, and gold exploration projects in Australia. A total of 111,231,602 New Shares and 37,077,000 New Options were issued to shareholders under the entitlement offer. The unquoted options have an exercise price of $0.022 and a 30 April 2024 expiry date. Existing shareholders applied for 52.2 million shares pursuant to the Entitlement under the Offer and also subscribed for the remaining 59.1 million Shortfall Shares.

Avenira's Executive Chairman, Brett Clark said, 'This is a very good outcome, and we thank our shareholders for their ongoing support. The strong global demand for phosphate for use in electric vehicle industries and agriculture has accelerated the importance of the Wonarah Phosphate Project for Avenira and these funds will allow us to progress development of the Tier 1 Phosphate asset. We look forward to the outcome of the Wonarah phosphate scoping study currently underway and our team continues to investigate strategic partnerships. We recognize the value of participation in the supply chains servicing electric vehicle and agriculture markets and will assess opportunities in the best interests of shareholders. The prospective Jundee South gold exploration will continue to be advanced subject to receival, analysis and interpretation of drilling results from Q4, 2021 drilling program. The continued delays in the laboratory and assaying industry with respect to results are well documented and the Company is keenly focused to accelerate the receival of results as soon as possible.'

Contact:

Brett Clark

Tel: +618 9264 7000

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