• Secured $609,000 in funding commitments from investors
• Funds to be used for seaweed purchases, Indonesia operations, and working capital
• Proceeds will support recently announced seaweed sales agreements

BPH Global Ltd (ASX: BP8) has announced that it has received commitments from institutional, professional, and sophisticated investors, as well as existing shareholders, to raise up to $609,000 (before expenses) through a private placement. The company will issue approximately 304,500,000 fully paid ordinary shares at $0.002 per share. Participating investors will also be entitled to one free attaching option for every four shares allotted, with an exercise price of $0.006 and a two-year expiry date. The funds raised will be used to fund the purchase of seaweed for on-sale to customers and expansion of the company's operations in Indonesia, as well as for working capital, including financial support for ongoing R&D projects and costs of the placement. The company's Managing Director, Matthew Leonard, expressed excitement to commence sales with the two recently announced offtake partners, PT. Kebula Raya Bestari and Quanzhou and Bailijie Biotechnology Co., Ltd. Sanlam Private Wealth Pty Ltd acted as the lead manager to the placement and will receive a 6% commission on the total funds raised, as well as 60 million options exercisable at $0.006 per option and expiring in two years, subject to shareholder approval.