Horizonte Minerals PLC (AIM:HZM, TSX:HZM, OTC:HZMMF) said it raised about £147.4mln through a placing that is part of a transformational finance package to fully fund its Araguaia nickel project in Brazil.
The shares were placed at 7 pence each.
Yesterday, the company said it had initiated a US$633mln finance package for Araguaia.
"I am delighted to announce completion of the equity fundraise,” said chief executive Jeremy Martin.
“I would like to thank all existing shareholders for their continued support throughout our journey to reach this significant milestone, and to welcome our new shareholders as we embark on this exciting new phase of Horizonte's story as we commence construction at Araguaia and progress feasibility work at Vermelho.
“The comprehensive funding package that we have secured is transformational for the company, and places Horizonte at the forefront of new, large-scale, sustainable nickel projects at a time when nickel's role in accelerating the clean energy transition is becoming increasingly critical."