Caracal Gold PLC (LSE:GCAT) has raised £92,000 by a subscription at a price of 0.3p plus options, a premium to last night's closing price, subject to prospectus approval.
A US$40,000 loan has also been agreed with Robbie McCrae, Caracal's chief executive, with a duration of two years and interest at 10% per annum.
Simon Grant Rennick, chairman, said: "The proceeds will be used to advance the Kilimapesa expansion funding process and general working capital requirements."