The fundraising will see Abzu sell up to 20 million units at $0.15 each.
Each unit consists of one company share and one half of one share purchase warrant.
Each warrant can be exchanged for a company share for two years from closing at $0.20 per share.
"The net proceeds of the offering are intended to be used by the company for the advancement of Abzu's Nangodi project and the company's other gold projects in Ghana, and for general corporate purposes," it said in a statement.
Abzu is working to exploit Ghana's world-class gold belts and has an interest in 16 concessions.
The firm is developing plans for a phase 2 drill programme on its two advanced flagship projects - Nangodi and Asafo.
In phase 1 the company hit high-grade gold mineralisation – up to 41.60 g/t gold in Nangodi and 62.20 g/t gold in Asafo.