Strickland Metals (ASX:STK) said the private placement to Zijin Mining Group to raise AU$5 million has been completed, according to a Wednesday filing with the Australian bourse.
The placement involved the issue of 54.9 million shares at AU$0.091 apiece, the filing said.
Zijin Mining Group now holds about a 2.4% stake in the company, according to the filing.
Strickland Metals shares fell 3% in morning trade Wednesday.
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