Panther Metals PLC (LON:PALM) announced it raised £200,000 in a private placing.
The company sold 1.66mln new shares priced at 12p each, marking a 20% premium to the last placing price in December.
It is priced at a 7.7% discount to Panther’s mid-market closing price on April 19, when the placing was agreed.
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"Panther Metals is working towards the completion of a structure that gives the business both flexibility and focus to advance multiple projects, in order to achieve long term growth in the exploration sector,” said Darren Hazelwood, chief executive.
“This placing, with experienced investors, demonstrates confidence whilst the additional capital will help underpin the business and advance our plans in some key areas. I look forward to updating the market on those steps in the very near future".