24th August 202022 Mar 2023 13:13
Sunrise Resources plc ('SRES'), the AIM-traded company focusing on the development of its CS Pozzolan-Perlite Project in Nevada, USA, is pleased to announce that it has raised £750,000 before expenses (the "Fundraise"), through a conditional placing ("the Placing") of 267,857,142 new Ordinary Shares of 0.1p each (the "Placing Shares") and a further £250,000 before expenses through a conditional Broker Option Offer of 89,285,714 new Ordinary Shares of 0.1p each all at a price of 0.28 pence per share (the "Placing Price").
The Placing was arranged through the Company's broker, Peterhouse Capital Limited ("Peterhouse"). Peterhouse will be issued with 17,857,143 warrants, each warrant entitling the holder to apply for one new Ordinary Share at the Placing Price at any time within 12 months from the date of issue.
Use of Proceeds
The net funds raised will be applied primarily to the further development of the Company's CS Pozzolan-Perlite Project in Nevada, USA, initial drill testing of certain of the Company's gold and silver projects, and general working capital.
BET THESE INVESTORS MUST BE REALLY DELIGHTED WITH THE PROGRESS IN 2.5 YEARS - 0.28P TO 0.08P - REMARKABLE !