Resource Mining (ASX:RMI) entered an agreement to receive AU$5 million from RiverFort Global Capital via the issue of convertible securities, according to a Thursday filing with the Australian bourse.
The first drawdown of AU$1.3 million can be drawn on July 31, the filing said.
Funds will be used for general working capital and to fund exploration activities in Tanzania, Saudi Arabia, and Finland.
Shares of the company rose 6% on market close.
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