March 10 (Reuters) - Oliver's Real Food Ltd OLI.AX :
* PLACEMENT, RELAXATION OF DEBT COVENANTS & SPP-OLI.AX
* COMMENCED A SERIES OF FUNDING INITIATIVES THAT ARE EXPECTED TO IMPROVE ITS FINANCIAL POSITION
* INITIATIVES WILL ALLOW ACCESS TO FUNDS OF BETWEEN $3.5 MILLION AND $5.0 MILLION
* CURRENTLY HAS BINDING COMMITMENTS FOR A $2.5 MILLION PLACEMENT
* PLACEMENT IS VIA A TWO-TRANCHE ISSUE AT $0.03 PER SHARE.
* PURE ASSET MANAGEMENT AGREED TO REDUCE CURRENT CASH COVENANTS BY $1.0 MILLION ON LOAN FOR $5.0M
* ANNOUNCES SPP CAPPED AT $1.5 MILLION