Placement participants will receive one (1) free Attaching Option (BPHOB) for every two (2) Placement Shares subscribed for under the Placement, exercisable at
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.
Commenting on the capital raising, Executive Director Mr
"We were pleased with the interest 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. 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
We welcome the new shareholders and look forward to all shareholders supporting BPH as we continue our activities."
USE OF FUNDS
The proceeds raised under the Placement provide BPH with a strong cash position to fund its hydrocarbon projects and to assist in the continued development of Cortical Dynamics.
The intended use of funds will be for:
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PLACEMENT DETAILS
The Placement offer price of
Settlement of the Placement is expected to be completed on or about
The Placement has been conducted pursuant to the Company's existing Placement capacity under ASX Listing Rule 7.1. A total of 68,183,943 New Shares, 34,091,971 Attaching Options, and 8,250,000 Broker Options will be issued under Listing Rule 7.1.
Placement Shares will rank equally with existing fully paid ordinary shares.
DIRECTOR AND MANAGEMENT PARTICIPATION
The BPH Board of Directors will not be participating in the Placement
About
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
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