Deep Yellow, a global uranium developer, raised $220 million through a new share issuance at $1.22 per share to advance its flagship Tumas Project in Namibia.

The capital raising drew strong participation from new and existing institutional investors worldwide.

An additional $30 million is planned through a share purchase plan at the same share price to support the Tumas Project development, the progress of the Mulga Rock Project in Western Australia, and targeted exploration.