Askari Metals (ASX:AS2) completed the placement of AU$350,000 to Celtic Finance, at an average price of AU$0.014 per share, under their subscription agreement, according to a Friday filing with the Australian bourse.

The placement was completed through the issue of 15.9 million shares priced at AU$0.011 apiece and 10.9 million shares priced at AU$0.016 apiece, following shareholder approval for placement capacity, the filing said.

Additionally, Celtic Finance will receive a one-for-one free attaching option exercisable at AU$0.022, expiring Dec. 31, 2028, pending shareholder approval, and a further 10 million subscriber options on the same terms as the attaching options.

Funds raised will be used for the company's Tanzanian uranium strategy, Uis lithium development in Namibia, and general working capital, according to the filing.