Terra Metals secured $6 million in funding through a share placement. Investors have committed to subscribing for 100 million new ordinary shares at 6 cents per share.
The largest shareholder, Tribeca, has committed approximately $941,000, while company directors will contribute $174,000, subject to shareholder approval.
Proceeds from the placement will be utilised to accelerate exploration and development tasks at the Dante Project in Western Australia.
Evolution Capital acted as the lead manager for the placement, which will be completed in two tranches.