Core Lithium (ASX:CXO) has raised about AU$67 million before costs through the second tranche of its AU$120 million equity raising, issuing roughly 320 million new shares following shareholder approval to help fund development of its Finniss lithium project, according to a Friday Australian bourse filing.

Total new funding received, net of costs, now amounts to around AU$157 million, per the filing.

The company shareholders also approved tranche two of the $70 million convertible notes issued to Glencore and InfraVia, representing the deferred $44 million, with completion subject to Foreign Investment Review Board approval, the filing added.

The company's shares fell 3% in recent Friday trade.