IMC Exploration Group has raised £150,000 through a placing and subscription of 15,000,000 new ordinary shares at 1p per share.
Two directors, Liam McGrattan and Nial Ring, have subscribed £50,000. Global Resource Investment Trust plc has subscribed a further £50,000.
Chairman Liam McGrattan said: "IMC continues to make solid progress in its exploration and corporate activities. We look forward to the coming year with enthusiasm."
IMC also confirmed that all resolutions proposed at its annual general meeting were passed.