Under the deal, Sentient has agreed to buy 125 million fully paid ordinary shares in Toro, which purchased a C$3m ($2.66m) senior secured loan in Strateco, C$14.1m ($12.5m) of convertible notes in Strateco.
The companies are negotiating a further $10m deal.
The funds will be used to enhance and optimize the process design, project configuration and operating and capital costs of the Wiluna uranium project.
Sentient will receive 2.5% of gross proceeds derived from the Wiluna mine as fee.
Toro Energy managing director Vanessa Guthrie said: "Toro is pleased to have secured Sentient’s funding commitment and to have expanded our global uranium portfolio.
"This should enables us to focus on bringing Wiluna into production into the expected emerging market supply gap and promoting the potential of the Wiluna uranium province, while building an initial global asset base that maximises for our shareholders the upside potential of an improving uranium price."
Sentient said: "We look forward to assisting Toro to bring the Wiluna Project through the final stages of its feasibility over the coming years."
