Basic Energy Corporation announced a private placement of 1,096,892,000 shares at issue price of PHP 0.25 for gross proceeds of PHP 274,223,000 on November 4, 2022. The transaction included participation from Engracio Ang Jr. for 24,000,000 shares, Vicky Chua for 7,500,000, Marco Go for 7,500,000 shares, Archivald Po for 7,500,000 shares, Jan Sharon Gaisano Tan for 11,250,000 shares, Robert Ty for 3,750,000 shares, Samuel Uy for 30,000,000 shares, Heirs of Salvacion de Venecia by Jose Ma. L. de Venecia for 6,000,000, Christodel Philippines for 18,750,000 shares, DSG Sons Group Inc. for 90,000,000 shares, DSG Sons Group, Inc – D for 15,000,000 shares, Phases Realtors, Inc for 18,750,000, SR Capital Holdings, Inc. for 150,000,000, BA Securities, Inc. for 150,000,000, Unicapital, Inc. for 450,000,000, and Meta Corporation Public Company Limited for 106,892,000 shares.