BPH Energy Ltd (ASX: BPH), an Australian company focused on investing in energy and biomedical technologies, has announced it has received binding commitments to raise approximately $1.2 million through a placement. The funds will be used to accelerate exploration programs for its gas projects and to assist in the expansion of its associate, Cortical Dynamics Limited. The placement involves the issue of 134,222,222 new fully paid ordinary shares at $0.009 per share, utilising the company’s existing placement capacity under ASX Listing Rules 7.1 and 7.1A.
Participants in the placement will receive one free attaching option for each share subscribed, exercisable at $0.03 each, with an expiry date aligned with the options issued under the Options Prospectus dated 2 December 2025. Oakley Capital Partners Pty Limited and 62 Capital Limited served as Joint Lead Managers for the placement and will receive a 6% cash fee on funds raised and an aggregate of 33,555,555 broker options on the same terms as the attaching options.
Executive Director Mr David Breeze commented on the capital raising, expressing pleasure in the strong support received. He stated that the funding would enable BPH Energy to unlock the potential of its gas projects, particularly given the current gas supply challenges, and support Cortical Dynamics’ development. Breeze also noted that the funding positions BPH Energy well ahead of the Federal Court hearing for the PEP-11 judicial review, scheduled for February 20 and 23, 2026, where the PEP-11 Joint Venture aims to challenge the Federal Government’s rejection of the PEP-11 permit extension.
The proceeds from the placement will be allocated as follows: $0.85 million for funding the exploration and development of oil and gas investments, $0.1 million for working capital, and $0.25 million for funding Cortical Dynamics. Settlement of the placement is expected around 14 January 2026. The company intends to issue a supplementary Options Prospectus soon.
