Javelin Minerals announced the results of its non-renounceable pro-rata entitlement issue, aiming to raise approximately $1.3 million.

Eligible shareholders received one new share for every two shares held at $0.001 per share, with an additional new option for every two new shares subscribed.

The company received applications for 624,211,580 new shares and 312,105,779 listed options, fully meeting the $1.25 million target through combined offers.

Executive Chairman Brett Mitchell plans to subscribe for 75,000,000 new shares and 37,500,000 options pending shareholder approval.

The issuance is scheduled for July 8.