Bradda Head Lithium Ltd said it successfully completed and closed its UK placing, raising gross proceeds of about £1.96mln.
The North America-focused lithium development group placed 14.5mln shares at 13.5 pence each having received orders in excess of £6.6mln.
The UK placing was nearly 4x over-subscribed.
On Monday, the company said it planned to raise up to about £1.98mln before expenses via a placing of up to 14.7mln shares in the UK.
It also said it raised about £7.92mln before expenses from a North American placing and will use the proceeds to explore and advance its lithium projects in Arizona and Nevada in the US.
READ: Bradda Head Lithium raises £7.92mln in placing to help advance projects in Arizona and Nevada
"The significant demand we've had for this UK and North American placing is extremely encouraging, and demonstrates the strong support from investors in Bradda Head's operations and objectives in the US lithium sector,” said chief executive Charles FitzRoy. “It also allows us to proceed swiftly with our planned exploration and development timeline in Arizona and Nevada."