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.
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