Bezant Resources (LON:BZT) has raised around £400,000 through a share subscription at a 9% premium to the market price.
The subscription shares were issued at 2.45p and will account for approximately 16.7% of the enlarged total in issue.
The funds will go towards the deposit on its planned acquisition of an alluvial platinum project in Colombia from Leeward.
Ed Nealon, Bezant’s chairman, acquired 5.5mln subscription shares, costing £134,750, to take his stake to 6.28%.
Bezant has to pay US$50,000 for the option to buy the tenements and to provide Leeward a US$350,000 loan facility.
If it goes ahead it will pay a further US$2mln, split between cash and shares, by the end of 2015.
Leeward’s licences are in the Choco district of Colombia.