Wildhorse Energy (ASX:WHE, LON:WHE) announced plans to raise up to A$1.435 million via a rights issue.
The funds raised will boost working capital and to assess the possibility of buying other projects.
The uranium and underground coal gasification company is offering one share for every two held at A$0.007 a share.
Earlier this year the firm said it had inked a heads of agreement for the sale of its Hungarian coal assets to Linc Energy for the equivalent of A$4.04 million in Linc shares.
Elsewhere, Wildhorse said it is looking at all options for its Mecsek Hills Uranium project in Hungary, one of the largest uranium deposits in Europe with a JORC-inferred resource of 48.3Mt (million tonnes) at 0.072% U3O8 for 77mln lbs of U3O8.
The firm is also mulling the possibility of buying additional projects in the uranium and natural resource sector.
WHE managing director Matt Swinney said: "WHE continues to examine all scenarios regarding its development and the greatest return available for shareholder funds.
"We have entered a conclusion phase with regards to the sale of the company's coal assets to Linc Energy and we continue discussions with the government of Hungary on the Mecsek Hills uranium project, with the aim of completing an agreement for its development."
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