FMR Resources (ASX:FMR) has secured firm commitments to raise AU$3.4 million through the placement of 9.4 million shares at AU$0.36 each, priced at a 10.2% discount to the company's 15-day volume weighted average price, according to a Thursday filing with the Australian bourse.

The placement will occur in two tranches, with tranche 1 raising about AU$3 million from 8.3 million shares and tranche 2 raising around AU$397,090 from 1.1 million shares, subject to shareholder approval, the filing said.

Proceeds will support exploration activities at the company's Llahuin project and Canadian assets, as well as general working capital, the filing added.