BPH Global Ltd: Agreements to establish Indonesian-based seaweed business and capital raising

BPH Global Ltd (ASX: BP8) announced the company's strategic move to acquire Indonesian-based seaweed assets and jointly develop an Indonesian-based seaweed business. On 22 September 2024, the company entered a legally binding term sheet with Singapore and Indonesian-based joint venture partners Messrs Rajiv Ramnarayan and Deepak Jha and PT Mitra Agro Global, an Indonesian company. This partnership will enable the company to expand its operations and tap into the growing seaweed market in Indonesia. The JV Partners have already made significant progress in developing seaweed sourcing, identifying potential sales channels, and initiating preliminary R&D into a seaweed bio-stimulant project. This strategic move marks an exciting new chapter for BPH Global Ltd as it continues to expand its presence in the Southeast Asian market.

Moreover, The Company announced the successful execution of an investment term sheet dated 22 October 2024 with its JV Partner, Mr Rajiv Ramnarayan. Under this agreement, Mr Ramnarayan will provide the Company with a total investment of AU$ 100,000, delivered in two tranches of AU$ 50,000 each. The key terms of this Investment Term Sheet are as follows: Total Investment Amount: AU$100,000, comprising: Tranche One Investment Amount: AU$50,000 due by 25 October 2024 and Tranche Two Investment Amount: AU$50,000 owing by 25 November 2024. This strategic partnership marks a significant milestone for the Company and sets the stage for exciting opportunities.

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