Cloudbreak Discovery PLC (LSE:CDL), a natural resource project generator, said it raised about £1.5mln via a placing.
It placed about 19.6 million shares with new investors at 7.5p, a 20% discount to yesterday's closing price.
The proceeds will be used to advance various projects and for general working capital.
"We are very happy with the net result of this placing,” said president and chief executive Kyler Hardy. “This fundraise highlights the growing support from our investors and the strength of Cloudbreak's business model.
“We are entering an exciting phase in the company's journey, and I look forward to keeping the market updated with forthcoming advancements at our projects."