Buxton Resources (ASX:BUX) disclosed a change in shareholding structure, with IGO increasing its voting power from 18.19% to 19.95%.

The change follows a subscription agreement, where IGO acquired an additional 9,551,459 ordinary shares, bringing its total holdings to 40,701,221 shares.

The adjustment is part of a larger $3.5 million capital-raising initiative by Buxton, comprising a $2.5 million placement and a $1 million share purchase plan.

The new funds will support upcoming exploration programs and general operations.