Alpha HPA (ASX:A4N) placed AU$50,000 worth of shares at AU$0.944 each to Port Curtis Coral Coast, which acts as trustee for the Port Curtis Coral Coast Aboriginal Peoples Charitable Trust (PCCC Trust), according to a Friday filing with the Australian bourse.

The placement includes the issue of 500,000 options to PCCC Trust at a strike price of AU$1.13 with a three-year expiry, the filing said.

The company and PCCC Trust agreed to collaborate on shared interests like First Nations engagement, cultural connection, and local economic development, fulfilling the economic participation requirement of the company's debt funding arrangement with the Northern Australia Infrastructure Facility, per the filing.

Alpha HPA shares fell 2% in midday trade Friday.