Constellation Resources completed a $1.4 million placement to fund ongoing exploration in Western Australia, business development, and working capital.

The placement comprised 9,375,000 shares at 12 cents per share, totalling $1.125 million from sophisticated investors.

Directors and officers also subscribed for 2,233,334 shares, pending shareholder approval, contributing $268,000.

The placement is in two tranches, with the first issuance expected around April 5.