The company will employ the raised funds towards drilling operations at its Nova nickel-copper deposit in Western Australia.
Sirius will also use some of the capital in the Fraser Range region and Polar Bear project.
Commenting on the placement Sirius managing director Mark Bennett remarked that the funding strengthen the company’s balance sheet and boost drilling at Nova nickel-copper deposit.
"We are now fully funded for the entire resource definition and feasibility process through to a potential future project financing decision," added Bennett.
The placed shares were sold at a 7.8% discount and account to 11.5% of the total issued capital of Sirius.
The Nova project is a major nickel-copper sulphide deposit of 500mt length, with 400mt across and upto 80mt thickness.
