Metal Hawk (ASX:MHK) received firm commitments to raise AU$2.5 million through the placement of roughly 6.1 million shares priced at AU$0.41 apiece, according to a Monday filing with the Australian bourse.

Proceeds will be used to fund gold exploration activities at the Leinster South project in Western Australia, the filing said.

Shares rose nearly 5% in midday trade Monday.