Australian Dairy Nutritionals Group (ASX:AHF) intends to raise $2.75M through the sale of $0.022 fully paid ordinary shares, before costs.

Plans for the use of funds include the production of Ocean Road Dairies organic A2 infant formula for the international market, costs associated with distribution, product compliance and trademark registration, vertical integration of the group’s supplemental feed requirements and general working capital costs.

Following the announcement, shares of Australian Dairy Nutritionals were unchanged at $0.025.