LONDON (Alliance News) - Sunrise Resources PLC on Wednesday said it raised GBP350,000 through a share placing to develop its asset in Nevada.
The company, which focuses on developing a CS pozzolan-perlite project in Nevada, issued 291.7 million shares at 0.12 pence each.
Sunrise shares were trading marginally down at 0.14 pence each on Wednesday.
The company will use the funds raised in the placing to continue developing its project, including mine permitting, customer trials, and all other work required.
Chair Patrick Cheetham said: "It is pleasing to see the company has broad support for its strategic plan in what are undoubtedly difficult and uncertain stock-market conditions."
Admission of the new shares to trading is expected on January 23, after which, the firm will have 2.73 billion shares in issue.
Sunrise Res (SRES)