Rights issue

23 January 2017 NON-RENOUNCEABLE RIGHTS ISSUE TopTung Ltd (ASX: TTW) (Company) today launched a non-renounceable rights issue of one (1) fully paid ordinary share (Share) for each three (3) Shares held by eligible shareholders to raise approximately $1,340,917 (Offer). The proceeds of the Rights Issue will be used to fund the costs of the Offer, estimated to be $20,000 and for:  Ongoing exploration and feasbility study costs on the Torrington Tungsten and Topaz project  Funding of the Topaz research project at the UNSW  Corporate and general administration costs.
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21 February 2017 RESULTS OF NON-RENOUNCEABLE RIGHTS ISSUE TopTung Ltd (ASX: TTW) is pleased to announce that its Non Renounceable Rights Issue (the Offer) announced on 23 January 2017 raised the maximum amount of $1,340,917 (before costs) through the issue of 38,311,913 fully paid shares in the Company (New Shares). The Offer closed substantially oversubscribed with many shareholders applying for New Shares significantly in excess of their Entitlement under the Offer. The Company received applications under the Entitlement offer for approximately $1.56 million, with oversubscriptions to be scaled back at the Directors discretion.
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15 March 2017 TORRINGTON TUNGSTEN AND TOPAZ PROJECT UPDATE 2017 Highlights:  RC percussion and diamond drilling commenced on 24 January 2017 and is ongoing;  Topaz fibre research project at the UNSW has commenced; and,  The 1 for 3 rights issued closed oversubscribed raising $1,340,917 before costs.
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Can someone please enlighten me ?
Given the above three announcements shouldn't it be stated that TTW finally raised
a total of approx. $1.56m after additional "overs" issued or have I misread something?
If the final amount raised($1.341m)is unaltered from the original planned
amount then something doesn't quite gel with me.