BPH Energy Limited (BPH.AX) Placement Update

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.

David Breeze
admin@bphenergy.com.au
www.bphenergy.com.au
T: +61 8 9328 8366

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