Key funding for BPH Global's seaweed business

BPH Global (ASX:BP8) has received a significant funding commitment of A$100,000 from a Malaysian investor through Convertible Notes. This funding is aimed at supporting the launch of BPH Global's seaweed business in Indonesia. The funds are convertible into new ordinary shares at A$0.003 per share, pending shareholder approval.

Strategic outlook and expansion plans

BPH Global (ASX:BP8) has secured A$100,000 from a Malaysian investor via Convertible Notes to support its Indonesian seaweed business. The funds will cover transaction completion, operational costs, working capital, and Convertible Notes issuance expenses. The conversion of notes into shares is subject to shareholder approval, expected by February 2025, with provisions for earlier conversion under certain conditions. The company is finalizing its acquisition of Indonesian seaweed assets, following a completed due diligence review, with the aim to incorporate BP8 Indonesia, acquire necessary permits, and purchase initial seaweed stock. This move signifies BPH Global's strategic push into the seaweed industry, leveraging the new funding to bolster its business operations and growth opportunities.

Executive insights on strategic funding

This funding commitment is a crucial step in our strategic expansion into the Indonesian seaweed market. It will enable us to complete necessary transactions and support the operational costs of our new business.