Native Mineral Resources Holdings (ASX:NMR) raised a combined AU$14.9 million under a non-renounceable entitlement offer and shortfall placements, according to a Monday Australian bourse filing.
It will use the funds to advance its Far Fanning and Blackjack gold deposits in Queensland, the filing said.
It received commitments from professional investors for a AU$4 million shortfall placement in respect of a AU$15.9 million non-renounceable entitlement offer that closed on Jan. 24.
It has now raised a minimum of AU$8.1 million under the offer, which triggered an investment by Maas Group Holdings (ASX:MGH) managing director Wes Maas of at least AU$6.8 million.
Maas had earlier agreed to conditionally invest in the offer shortfall to hold up to a 19.9% stake in the firm.
The firm's shares rose 10% in recent trading on Monday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.