Fulcrum Metals will be joining the AIM market of the London Stock Exchange after a successful initial public offering and conditional placing.
Shares are expected to commence trading on the AIM market of the London Stock Exchange on 14 February.
According to a statement, shares were sold at 17.5p per share to raise gross proceeds of roughly £3mln.
"I am particularly encouraged by investor appetite for our company, which I believe speaks volumes for the quality of our projects and the expertise of our team,” said Ryan Mee, chief executive of Fulcrum.
Proceeds from the raising will be used to “capitalise on the potential” of Fulcrum’s portfolio of base, precious and energy metal projects in Canada.
“The funds will be used to support our strategy - to focus on discovery and the commercialisation of our projects through targeted exploration programmes with a view to bringing them up the value chain and ultimately to secure potential joint venture partner or acquisition interest,” Mee added.
Panther Metals will hold a 20% interest upon admission of the stocks onto the AIM market.