The funding includes $16.8m placement to Resource Capital Fund with shares priced at $0.02 each, an entitlement offer to shareholders to raise around $52.6m
Resource Capital Fund and Pala Investments will provide $17.8m stand-by debt facility guaranteeing the non-institutional shareholder entitlement offer.
The funds will also be used to repay the BlackRock funds debt.
Peninsula Energy executive chairman Gus Simpson said: "Securing this funding is a defining achievement for the Company as it enables us to transition to a uranium producer in 2015.
Following the completion of Stage I ramp-up, the Lance project is estimated to produce between 500,000 and 700,000 lbs U3O8 each year.
The company has already signed sale and purchase agreements for around two million pounds U3O8, scheduled to be delivered by 2024.
The Lance project is said to have a mine life of at least 20 years with 53.7 million pounds of uranium ISR JORC-code compliant resource.
