Metal Tiger launched a placing with new and existing investors to raise around £1.0m to fund project opportunities in Botswana.
News shares in the company would be offered at 1.45p each.
The funds would, in part, be used to enter negotiations with Kalahari Metals regarding the company potentially providing further financing for proposed exploration drilling at the Okavango and Ngami projects.
It will also allow Metal Tiger to continue to take advantage of other opportunities, the company said.
At 1:31pm: (LON:MTR) Metal Tiger Plc Ord 0.01p share price was +0.03p at 1.33p