Placement Update
Perth, Feb 22, 2024 AEST (ABN Newswire) - Further to BPH Energy Limited's (
ASX:BPH) announcement of 9 February 2024 regarding a Placement ("Placement") to raise $2.25 million, the final number of securities issued under the Placement was as follows:
- 69,183,942 fully paid ordinary shares at an issue price of $0.033 per share; and
- 34,591,979 listed options with an exercise price of $0.03 each and expiry 30 September 2024 (BHPOB).
The Placement raised a total of $2,283,070, of which $72,000 related to the set-off of third-party invoices in relation to marketing and advertising costs, and $2,211,070 was in cash (net fees) proposed to be used as follows:
- $1.71 million - funding for exploration and development of oil and gas investments.
- $0.3 million - for working capital, including the costs of the offer; and
- $0.2 million - funding for Cortical Dynamics.
In addition, a total of 8,250,000 listed options with an exercise price of $0.03 each and expiry 30 September 2024 (BHPOB) were issued to the joint Lead Managers (EverBlu and Sixty-Two Capital) for the Placement.
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).
| ||
|
