The trading halt will remain in place until the beginning of ASX trading on Monday, March 16, 2020, or when an announcement is released to the market, whichever occurs earliest.
Shares in the company that has a market cap of approximately $140.9 million last traded at 6.1 cents.
Move to finalise $14 million placement
AVZ recently received a US$1 million convertible note from N-Resource Limited, an associate of Yibin Tianyi Lithium Industry Co Ltd.
The payment of US$1 million permits Yibin Tianyi to maintain its rights under a $14.1 million share subscription agreement for which the sunset date has been extended to March 31, 2020.
It also accommodates a request to Yibin Tianyi from Australia’s Foreign Investment Review Board (FIRB) for additional time to finalise its review which is well progressed.