HIGHLIGHTS
-- Binding commitments received to raise $1.044 million through a Placement at $0.018 per share
-- New sophisticated investors including high net worth, family office and dedicated resource funds confirmed as participants
-- Subject to Shareholder approval, placement participants will receive one (1) Attaching Option for every two (2) New Shares subscribed for under the Placement, exercisable at $0.03 per share, expiring 12 months from the date of issue.
-- BPH funded to execute its next phase of hydrocarbon and Cortical Dynamics funding
BPH Energy Limited (ASX: BPH) (“BPH” or “Company”) is pleased to announce that it has received binding commitments to raise $1.044 million (before costs) (“Placement”). The Placement will comprise the issue of 58,028,337 new fully paid ordinary shares (“Placement Shares”) in the Company at an issue price of $0.018 per share. The Placement Shares will be issued pursuant to the Company’s existing placement capacity under ASX Listing Rule 7.1A.
Placement participants will receive one (1) free Attaching Option for every two (2) Placement Shares subscribed for under the Placement, exercisable at $0.03 each, expiring 12 months from the date of issue (“Attaching Options”). The issue of the Attaching Options is subject to shareholder approval at a general meeting to be held on or about 25 September 2024. The Company will seek shareholder approval for a total of 29,014,168 Attaching Options.
For more information, download the attached PDF.
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