{"id":419,"date":"2024-08-12T01:45:24","date_gmt":"2024-08-12T01:45:24","guid":{"rendered":"https:\/\/investingsstrategist.com\/index.php\/2024\/08\/12\/bph-energy-ltd-raises-1-million-to-accelerate-funding-of-hydrocarbon-and-cortical-investments\/"},"modified":"2024-08-12T01:45:24","modified_gmt":"2024-08-12T01:45:24","slug":"bph-energy-ltd-raises-1-million-to-accelerate-funding-of-hydrocarbon-and-cortical-investments","status":"publish","type":"post","link":"https:\/\/investingsstrategist.com\/index.php\/2024\/08\/12\/bph-energy-ltd-raises-1-million-to-accelerate-funding-of-hydrocarbon-and-cortical-investments\/","title":{"rendered":"BPH Energy Ltd Raises $1 Million to Accelerate Funding of Hydrocarbon and Cortical Investments"},"content":{"rendered":"

BPH Energy Limited<\/strong> (ASX: BPH) (\u201cBPH\u201d or \u201cCompany\u201d) is pleased to announce that it has received binding commitments to raise $1.044 million (before costs) (\u201cPlacement\u201d). The Placement will comprise the issue of 58,028,337 new fully paid ordinary shares (\u201cPlacement Shares\u201d) in the Company at an issue price of $0.018 per share. The Placement Shares will be issued pursuant to the Company\u2019s existing placement capacity under ASX Listing Rule 7.1A. <\/p>\n

HIGHLIGHTS<\/strong><\/p>\n

Binding commitments received to raise $1.044 million through a Placement at $0.018 per shareNew sophisticated investors including high net worth, family office and dedicated resource funds confirmed as participantsSubject 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 <\/p>\n

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 (\u201cAttaching Options\u201d). 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.<\/p>\n

Oakley Capital Partners Pty Limited (\u201cOakley Capital\u201d) and 62 Capital Limited (\u201c62 Capital\u201d) acted as Joint Lead Managers for the Placement. Oakley Capital and 62 Capital will be paid a cash fee of 5.5% on funds raised under the Placement and subject to shareholder approval at the general meeting held on or about 25 September 2024, will receive 16,666,667 Broker Options (\u201cBroker Options\u201d) exercisable at $0.03 each, expiring 12 months from the date of issue (pro rata to their participation in the Placement).<\/p>\n

The Company will seek quotation of the Attaching Options and Broker Options, subject to ASX Listing Rule requirements being met. <\/p>\n

Commenting on the capital raising, Executive Director Mr David Breeze said:<\/strong><\/p>\n

\u201cWe were pleased with the strong support in the Placement and will see the introduction of several new sophisticated investors, including high net worth, family office and resource funds to our register.<\/em><\/p>\n

The funding allows BPH to accelerate the exploration programs to unlock the potential on our gas projects especially with the current gas supply crisis as well as assist the next phase of associate Cortical Dynamic Limited\u2019s expansion. <\/em><\/p>\n<\/p>\n

Click here for the full ASX Release<\/strong><\/p>\n<\/p>\n

This post appeared first on investingnews.com<\/div>\n","protected":false},"excerpt":{"rendered":"

BPH Energy Limited (ASX: BPH) (\u201cBPH\u201d or \u201cCompany\u201d) is pleased to announce that it has received binding commitments to raise $1.044 million (before costs) (\u201cPlacement\u201d). The Placement will comprise the issue of 58,028,337 new fully paid ordinary shares (\u201cPlacement Shares\u201d) in the Company at an issue price of $0.018 per share. The Placement Shares will […]<\/p>\n","protected":false},"author":0,"featured_media":420,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-419","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts\/419","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/comments?post=419"}],"version-history":[{"count":0,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts\/419\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/media\/420"}],"wp:attachment":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/media?parent=419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/categories?post=419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/tags?post=419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}