BPH Global Ltd

Agreements to Establish Indonesian-Based Seaweed Business and Capital Raising

Further to previous announcements made by the Board of BPH Global Ltd (ASX: BP8) (Company) regarding the Company’s strategic review of its seaweed operations and the expansion of its R&D operations to include the extraction of minerals and gases for use in the battery and energy industries, the Board is pleased to announce that the Company has entered into a binding term sheet to acquire Indonesian-based seaweed assets and for the joint development of an Indonesian- based seaweed business.


Highlights

  • Establishment of Indonesian-based, seaweed focused business
  • BP8 to incorporate 100% owned subsidiary in Indonesia
  • Joint venture partners to contribute assets to the venture
  • Focus on commercialisation opportunities based on sales of raw seaweed and seaweed-based and infused products
  • Particular focus on development of seaweed-based bio stimulant products for sale into the Indian market
  • AUD100,000 placement by a venture partner to support development of the business

Term Sheet

On 22 September 2024, the Company entered into a legally binding term sheet (Term Sheet) with Singapore and Indonesian-based joint venture partners Messrs Rajiv Ramnarayan and Deepak Jha and PT Mitra Agro Global an Indonesian company (together the JV Partners) for the acquisition by the Company of Indonesian-based assets owned by the JV Partners (Assets) and the incorporation by the Company of a wholly owned Indonesian subsidiary (BP8 Indonesia). The JV Partners have undertaken preliminary activities in developing seaweed sourcing in Indonesia and identifying potential sales channels for the seaweed supply and are undertaking preliminary R&D into a seaweed bio-stimulant project.

The bio-stimulant project is targeting development of an agricultural-based product which is an additive to crops used in the production of food products. The bio-stimulant seeks to increase nutrient availability and uptake in those food sources so as to optimise Traditional Chinese Medicine outcomes. The JV Partners have developed a relationship with an Indian-based holder of intellectual property relating to bio-stimulant technology (Bio-stimulant IP} and will assist the Company in its endeavours to obtain a licence to use that intellectual property.

BP8 considers that it can combine its own seaweed sector intellectual property and resources with the JV Partners’ activities and the Assets to develop a joint venture project in Indonesia focused on:

  • seaweed cultivation, sourcing and sales, and
  • R&D into a seaweed bio-stimulant project and its commercialisation.


Click here for the full ASX Release

This article includes content from BPH Global, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

BP8:AU
BPH Global

BPH Global Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
BPH Global

BPH Global

Stemcell United Ltd is a marine and agricultural biotechnology industry. Its only operating segment being sourcing, producing, marketing, and selling traditional medicines. The company's geographical segment includes Australia; Singapore; Malaysia and Greater China. The company's product includes Cannabis sativa; Dendrobium Officinale and Daemonorops Draco Blume.

AMGEN ANNOUNCES 2024 FOURTH QUARTER DIVIDEND

Amgen (NASDAQ:AMGN) today announced that its Board of Directors declared a $2.25 per share dividend for the fourth quarter of 2024. The dividend will be paid on December 9, 2024 to all stockholders of record as of the close of business on November 18, 2024 .

About Amgen
Amgen discovers, develops, manufactures and delivers innovative medicines to help millions of patients in their fight against some of the world's toughest diseases. More than 40 years ago, Amgen helped to establish the biotechnology industry and remains on the cutting-edge of innovation, using technology and human genetic data to push beyond what's known today. Amgen is advancing a broad and deep pipeline that builds on its existing portfolio of medicines to treat cancer, heart disease, osteoporosis, inflammatory diseases and rare diseases.

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less

AMGEN ANNOUNCES WEBCAST OF 2024 THIRD QUARTER FINANCIAL RESULTS

Amgen (NASDAQ:AMGN) today announced that it will report its third quarter 2024 financial results on Wednesday, October 30, 2024 after the close of the U.S. financial markets. The announcement will be followed by a conference call with the investment community at 4:30 p.m. ET . Participating in the call from Amgen will be Robert A. Bradway chairman and chief executive officer, and other members of Amgen's senior management team.

Live audio of the conference call will be simultaneously broadcast over the internet and will be available to members of the news media, investors and the general public.

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less
Cardiol Therapeutics to Advance CardiolRx into a Late-Stage Trial in Patients with Recurrent Pericarditis

Cardiol Therapeutics to Advance CardiolRx into a Late-Stage Trial in Patients with Recurrent Pericarditis

MAVERIC-2 trial will evaluate the impact of CardiolRx(TM) following cessation of interleukin-1 blocker therapy (rilonacept or anakinra) and is expected to run concurrently with the Company's planned Phase III program.

Cardiol Therapeutics Inc. (NASDAQ: CRDL) (TSX: CRDL) ("Cardiol" or the "Company"), a clinical-stage life sciences company focused on the research and clinical development of anti-inflammatory and anti-fibrotic therapies for the treatment of heart disease, today announced plans to expand the MAVERIC clinical development program and advance CardiolRx™ into a late-stage clinical trial ("MAVERIC-2") to evaluate the impact of CardiolRx™ in recurrent pericarditis patients following cessation of interleukin-1 ("IL-1") blocker therapy. MAVERIC-2 is expected to be initiated during Q4 at major pericardial disease centres in the United States and Europe and to report results ahead of the Company's planned pivotal Phase III study in recurrent pericarditis.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
  BPH Global Ltd

BPH Global Ltd (ASX: BP8) – Trading Halt

Description

The securities of BPH Global Ltd (‘BP8’) will be placed in trading halt at the request of BP8, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Thursday, 24 October 2024 or when the announcement is released to the market.

Keep reading...Show less
3D rendering of Ribosomal protein S6 kinase, 90kDa, polypeptide 3, an enzyme implicated in controlling cell growth and differentiation.

How to Invest in AlphaFold Stock

In a remarkable convergence of biology and artificial intelligence (AI), AlphaFold has emerged as a game-changer in the quest to understand the building blocks of life.

Developed by DeepMind, a subsidiary of Alphabet (NASDAQ:GOOGL), this AI system can accurately predict the intricate 3D structures of proteins, a feat that has challenged scientists for decades and earned its developers Demis Hassabis and John Jumper the Nobel Prize in Chemistry on October 9, 2024.

Here, the Investing News Network takes a deep dive into what AlphaFold is, how AlphaFold works, the history of DeepMind and the exciting investment opportunities emerging from this cutting-edge technology.

Keep reading...Show less

AMGEN PRESENTS POSITIVE PHASE 3 DATA FOR UPLIZNA® IN GENERALIZED MYASTHENIA GRAVIS AT AANEM 2024

MINT Study Results Show Clinically Meaningful and Statistically Significant Efficacy in AChR+ and MuSK+ Patients

First and Only Phase 3 Placebo-Controlled gMG Trial for a Biologic That Tapered Corticosteroid Use

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less
BPH Global

BPH Global Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×