Bellavista Resources secured $1.2 million through an unbrokered capital raising, issuing 8 million shares at 15 cents each.
The funds will expedite due diligence on key projects, secure strategic funding for the Brumby Project, and support exploration in the Edmund Basin Project.
Mick Wilson, Bellavista's executive director, highlighted the capital's role in advancing projects and securing funding.
Settlement for most shares is anticipated by July 3, with an additional 1,325,381 shares pending shareholder approval for company directors.