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BPH Energy (ASX: BPH) raising AU$1M to drive hydrocarbon and Cortical Dynamics funding

May 12, 2024 06:34 PM PDT | By Sonal Goyal
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 BPH Energy (ASX: BPH) raising AU$1M to drive hydrocarbon and Cortical Dynamics funding
Image source: Company website

Highlights

  • BPH has received binding commitments to raise AU$1 million through a placement at AU$0.02 per share.
  • Funds will support BPH's hydrocarbon projects and expansion of Cortical Dynamics.

BPH Energy Limited (ASX: BPH), an Australian company, has secured binding commitments from new sophisticated investors to raise AU$1 million (before costs) through a placement of 50,000,000 BPH shares at an issue price of AU$0.02 per share.

The proceeds from the placement will assist BPH in advancing its hydrocarbon projects and supporting expansion of Cortical Dynamics.

The key investment of BPH in medtech is Cortical Dynamics’ Brain Anaesthesia Response Monitor (BARM) device, which measures the brain electrical activity of a patient to project the response to drugs used during surgery. 

BPH shares traded at AU$0.021 apiece at the time of writing on 10 May 2024.


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