It adds to the £15mln raised through a share placing completed at the time of that announcement.
The pubs operator said the £22mln will strengthen its balance sheet after the coronavirus pandemic forced the closure of its pub estate, with net debt to be cut by two thirds.
City Pubs’ management said they were considering an expansion of the portfolio “at a time when the directors’ believe acquisition prices will be reduced in the short term”.
“We continue to run the business tightly, seeking to reduce the cash burn rate further and negotiations continue with the landlords of our leasehold pubs,” executive chairman Clive Watson said in a statement.
“We continue to be grateful to all stakeholders in the company at this challenging time and it is our goal to ensure that we take advantage of the strong position we now have when the current restrictions are lifted.”
City Pub shares rose 1% to 76p on Thursday afternoon.