Patriot Lithium raised $2.5 million through a share placement approved by shareholders.
The placement priced shares at 7.5 cents each.
Tranche 1 raised $1.7 million through 23,138,657 shares, while Tranche 2 raised an additional $804,351 through 10,724,676 shares.
Additionally, 6 million board and management options, exercisable at 20 cents each, were allocated to key executives.