BrasilNickel, a privately held British company, raised $27.57 million.
Of that, $25m was invested by TechMet, a private company that is Brasil Nickel's financing partner.
The funds will be used to advance the advanced stages of the Pioi nickel project in Brazil.
Brasil Nickel will use the funds to accelerate the development of the PNP 1000 project by completing a feasibility study for the full project and expanding the existing demonstration plant to provide early small-scale production of the project.
In addition, Robert Jenkins will step down as a non-executive director but will remain as an alternate director to John Croft.
