Caspin Resources (ASX:CPN) completed the second tranche of a AU$2.1 million capital raising, according to a Wednesday Australian bourse filing.

The second tranche consisted of raising around AU$290,000 via the placement of 5,755,200 fully-paid ordinary shares in the firm at AU$0.05 per share to new and existing institutional and sophisticated investors and around AU$100,000 via the issue of 2 million fully-paid ordinary shares in the firm at AU$0.05 per share to directors.

It also issued 21 million one-for-two free attaching options, exercisable at AU$0.10, expiring on Dec. 31, 2026.