Core Lithium (ASX:CXO) received the proceeds of the tranche one convertible note $26 million funding as part of the strategic funding package for the restart of the Finniss lithium operation in the Northern Territory, according to a Friday filing with the Australian bourse.

Proceeds will be used for early works, site preparation, contractor mobilization, and initial restart capital activities at the project, the filing said.

The company's shares fell nearly 2% in recent Friday trade.