The company has placed approximately 7.1 million fully paid ordinary shares at a price of $0.14 per share.
The proceeds will also be used to further delineate the Mutola, Grande and Macico high grade zones at Nicanda Hill as well as for general working capital purposes.
GMP Securities and Merchant Capital acted as lead manager and broker to the placement respectively.
Planned to be concluded on 13 March 2015, the placement will be completed in a single tranche.
Participants will be given one free attaching option for every two shares allocated in the placement. The option will be exercisable at A$0.20 per share and will be valid for two years from the date of issue.
Triton Minerals managing director and CEO Brad Boyle said: "Triton is pleased with the support we have received from institutional and sophisticated investors.
"The proceeds from the Placement will assist the company to progress the feasibility study at the Nicanda Hill Project, which we expect to be completed by the fourth quarter of 2015."
