BPH Energy

BPH Energy Ltd Raises $2.25 Million to Accelerate Funding of Hydrocarbon and Cortical Investments

BPH Energy Limited (ASX: BPH) (“BPH” or “Company”) is pleased to announce that it has received binding commitments to raise $2.25 million (before costs) (“Placement”). The Placement will comprise the issue of 68,183,943 new fully paid ordinary shares (“Placement Shares”) in the Company at an issue price of $0.033 per share.


HIGHLIGHTS:
  • Binding commitments received to raise $2.25 million through a Placement at $0.033 per share
  • New sophisticated investors including high net worth, family office and dedicated resource funds confirmed as participants
  • Placement participants will receive one (1) Attaching Option (BPHOB) for every two (2) New Shares subscribed for under the Placement, exercisable at $0.03 per share, expiring 30 September 2024.
  • BPH funded to execute its next phase of hydrocarbon and Cortical Dynamics funding

Placement participants will receive one (1) free Attaching Option (BPHOB) for every two (2) Placement Shares subscribed for under the Placement, exercisable at $0.03 each with an expiry date of 30 September 2024 (“Attaching Options”).

Oakley Capital Partners Pty Limited (“Oakley Capital”), Everblu Capital Corporate Pty Ltd (“Everblu”), and 62 Capital Limited (“62 Capital”) acted as joint Lead Managers for the Placement. Oakley Capital, EverBlu and 62 Capital will be paid a cash fee of 5% on funds raised under the Placement and 8,250,000 BHPOB Broker Options (“Broker Options”) pro-rata to their participation in the Placement.

The Placement (including the free Attaching Options and Broker Options) will be undertaken pursuant to the Company’s existing placement capacity under ASX Listing Rule 7.1 and subsequent to the issue of a Prospectus in compliance with the Corporations Act.


Click here for the full ASX Release

This article includes content from BPH Energy, 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.

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BPH Energy Limited

BPH Energy Limited PEP11 UPDATE

Perth, Australia (ABN Newswire) - BPH Energy Limited (ASX:BPH) and Bounty Oil & Gas NL (ASX:BUY) refer to the ASX announcement dated 21 July 2023 regarding PEP-11.

Asset Energy Pty Ltd (a wholly owned subsidiary of Advent Energy Limited, an investee of BPH Energy Limited) continues to progress the Joint Venture's applications for the variation and suspension of work program conditions and related extension of PEP-11.

Asset has provided additional information to NOPTA (National Offshore Petroleum Titles Administrator) in response to NOPTA's recent requests for further information.

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- As Australia transforms to meet a net zero emissions future, gas will continue to complement zero emissions and renewable forms of energy, and to provide a reliable and dispatchable form of electricity generation.

- The 2023 GSOO highlights continued risks of short-term gas supply shortfalls and long-term gas supply gaps arising from reducing production from southern Australia. In particular, the risk of peak day shortfalls continues to be forecast under very high demand conditions in the southern states from winter 2023.

- Short-term critical gas adequacy conditions include:

- Extreme weather conditions across southern regions that drive high coincident peak demand for gas consumption may lead to gas shortfalls, particularly if combined with high gas generation (if alternative electricity generation resources are unavailable).

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*To view tables and figures, please visit:
https://abnnewswire.net/lnk/8X1L64UL



About BPH Energy Limited:

BPH Energy Limited (ASX:BPH) is an Australian Securities Exchange listed company developing biomedical research and technologies within Australian Universities and Hospital Institutes.

The company provides early stage funding, project management and commercialisation strategies for a direct collaboration, a spin out company or to secure a license.

BPH provides funding for commercial strategies for proof of concept, research and product development, whilst the institutional partner provides infrastructure and the core scientific expertise.

BPH currently partners with several academic institutions including The Harry Perkins Institute for Medical Research and Swinburne University of Technology (SUT).



Source:
BPH Energy Limited

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