• Secures $7 million funding from US-based investor Hale Capital Management
• Initial drawdown of $2.98 million to fund working capital and growth initiatives
• Convertible notes can be converted into shares at $0.1234 per share

AVA Risk Group Ltd has entered into a secured convertible note funding agreement and a warrant deed with US-based investor, Hale Capital Management and its affiliates, to provide the Company with funding of up to a total of $7 million. An initial drawdown of $2,979,184 (less transaction costs) has been provided, and in return Hale will subscribe for 2,979,184 unlisted convertible notes, each with a face value of $1 and convertible into fully paid ordinary shares of the Company at a conversion price of $0.1234 per share. The funding will be used for the Company's working capital and general corporate purposes and to fund future growth initiatives, including the expansion of the Company's sales, marketing and operational activities and expansion into US markets. The Company will also issue 19,314,000 unlisted warrants each with an exercise price of $0.1234 and a 5-year term. Subject to obtaining shareholder approval, the Company will have access to a further $4,020,816 (less transaction costs) by an issue in aggregate to Hale of 4,020,816 unlisted convertible notes, and 26,066,875 unlisted warrants.