Challenger Gold (ASX:CEL) raised AU$6.6 million through the placement of 147.7 million shares at AU$0.045 apiece to an entity controlled by shareholder Eduardo Elsztain, according to a Friday filing with the Australian bourse.
The entity will also receive an attached ordinary share purchase warrant of the company along with each share, the filing said.
The company plans to appoint Elsztain, who now holds a 12.7% stake in the company, as non-executive chairman, the filing added.
Additionally, the company has paid $2 million under a toll processing agreement with Casposo Argentina Mining.
Shares of the company rose almost 7% in recent Friday trade.
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