The company said that the amount would be sufficient to complete the mining licence application for the Rukwa Coal Project.
It is also expected to attract several groups interested to collaborate with the company on the coal project.
According to Edenville Energy, the interested groups are experienced in building large-scale coal to power projects and some are already active in the East Africa region, which could be beneficial for the project.
The core project within the coalfields includes coal deposits of Mkomolo, Namwele and Muze, all lie within the Rukwa Coalfield and are controlled by Edenville Energy.
Edenville Energy said: "Application will be made for the Placing Shares to be admitted to trading on AIM ("Admission").
"It is expected that Admission will become effective on or around 14 August 2015. Following the Placing, the issued share capital of the Company will be 8,420,671,206. The shares issued in the Placing will rank pari passu with the existing ordinary shares."
