Hebang Biological intends to increase its stake in Australian listed company AEV and achieve control

Hebang announced on July 26, A wholly owned subsidiary companies hebang biological (Hong Kong) investment co., LTD. on July 25, with Australia listed company AveniraLimited (hereinafter referred to as the "AEV") signed a "TermsSheetStrategicPlacement", The holding of AEV will be realized by increasing AEV shares and making additional investments in AEV. The source of funds for this investment is the own funds of Hebang Hong Kong.

According to reports, AEV in the Northern Territory of Australia has Australia's largest high-quality phosphate resources and mining licenses, and phosphate mine development, yellow phosphorus plant investment and construction of industrial planning and land. AEV owns mineral resources in Australia, including phosphate rock, exploration rights, mining rights, and resource reserves of about 533 million tons; Gold mine, exploration rights, about 1724 square kilometers of exploration area.

In December last year, Hebang Biology disclosed that Hebang Hong Kong intends to subscribe for AEV equity, and as of July 25, 2024, Hebang Hong Kong has held 255,568,182 AEV ordinary shares, accounting for 10.88% of its outstanding ordinary shares. Hebang Biological said that in order to effectively enhance the value of AEV's mineral resources, it decided to subscribe to its shares through the Hebang Hong Kong Agreement to achieve the holding of AEV.

Under the terms of the contract, AEV will place the shares to AEV in two stages at an issue price of AU $0.006 per share, with a total subscription volume of approximately AU $4.5 million. Upon completion of the above placement and the restructuring of the board and management, AEV will become a majority-owned subsidiary of Hutchison Hong Kong. In order to maximize the benefits of AEV's mineral resources as soon as possible, Hebang Hong Kong will also provide interest bearing loans to AEV, which is a controlling subsidiary of the company, in the future to support AEV to complete the development of phosphate ore projects as soon as possible.