Yandal Resources (ASX:YRL) received firm commitments to raise AU$13.5 million through the issue of 46.4 million new shares at AU$0.29 apiece, to new professional and sophisticated investors and existing shareholders, according to a Wednesday filing with the Australian bourse.

The offer price represents a 4.4% discount to the company's five-day volume weighted average price, the filing said.

Proceeds will be used to fund exploration activities and for general working capital, per the filing.

Shares of the company rose past 9% in recent Wednesday trade.