Mineral & Financial Investments Ltd (AIM:MAFL) said it has raised £250,000 from a placing to be used for investment opportunities it is "actively reviewing".
The fundraising was carried out with private and institutional investors at a price of 21p per share, compared to the last closing price of 25.5p and a discount of just over 1p to the net asset value at the end of December, 22.03p.
Jacques Vaillancourt, president and chief executive of the company, said the funds would provide "new shareholders that have recognised our ability to continue to build NAVPS regardless of market/resource industry conditions and sentiment.
"We seek value in all the investments we make and the funds provided will strengthen our balance sheet further as we advance discussions on new investments."
Settling historic broker fees, a further 250,000 new shares were issued to broker Novum Securities, making a total of 1,440,476 ordinary shares to be issued.
The company said it will issue 47,619 warrants to Novum, with each warrant giving the right to subscribe for one ordinary MAFL share at a price 25p apiece at any time until 24 May 2025.