Digital media group Milestone (LON:MSG) unveiled a premium priced fundraising to be used to accelerate commercialisation of its products.
It will issue over 70 million shares at a penny each - a hefty premium to yesterday's close of 0.625p- to raise £694,363.93 in cash.
This will settle £10,000 worth of trade creditors.
Milestone said it was delighted by the raising and funds will go to a number of developments, including digitising the Disorder Magazine as announced in April and further developing the Passion Project.
It will also go towards marketing and distribution of Winning in the Game of Life - an educational product, which addresses aspects of the social, moral, spiritual and cultural curriculum.
Milestone shares rose 8% to stand at 0.675p.