AHF raises AU$2.13 million and enters China Supply Agreement

Australian Dairy Nutritionals Limited (ASX: AHF) has announced a strategic placement to raise AU$2,133,010 by issuing 96,955,018 fully paid ordinary shares. The funds will support brand development, market expansion, and ongoing operations. The placement involves issuing 48,477,509 shares at AU$0.02 each and another 48,477,509 shares at AU$0.024 each, set to complete on 13 September 2024.

Additionally, AHF has entered an exclusive supply agreement with Mutree Science and Technology Limited for the distribution of its infant formula products in China. This partnership has an initial term of 5+5 years and requires a minimum volume of 100,000 units in the first year, translating to at least AU$2.5 million in sales. Mutree will leverage its M2C APP platform to enhance distribution across China, the largest infant formula market globally.

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