Last checked at 20 Apr 2015 07:00
20 April 2015
SUNRISE RESOURCES PLC
(the "Company")
SHARE PLACING
Sunrise Resources plc, the AIM-traded diversified mineral exploration and development company, is pleased to announce that it has raised £210,000 before expenses through a placing of 105,000,000 new Ordinary Shares of 0.1p each (the "Placing Shares") with an institutional investor at a price of 0.2p per Placing Share (the "Placing").
Use of proceeds
The net funds raised will be applied to the exploration of the Company's projects in Australia and Nevada and for general working capital purposes.
The Placing
The Placing Shares will be issued credited as fully paid and will rank pari passu in all respects with the existing Ordinary Shares, including the right to receive all dividends and other distributions declared on or after the date on which they are issued.
The Placing Shares represent approximately 15.3 per cent. of the enlarged issued share capital.
Application will be made for admission to AIM of the Placing Shares ("Admission") which is expected to occur at 8.00 am on 23 April 2015.
Total voting rights
Following the Placing, the number of Ordinary Shares in issue will increase to 686,615,349. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Disclosure and Transparency Rules.
Further information:
Sunrise Resources plc Patrick Cheetham, Executive Chairman | Tel: | +44 (0) 845 868 4590 |
Northland Capital Partners Limited Edward Hutton/David Hignell John Howes/Mark Treharne (Broking)
| Tel: | +44 (0)20 7382 1100 |
About Sunrise Resources plc
Sunrise Resources plc is a diversified mineral exploration and development company.
The Company has diamond and gold exploration interests in Western Australia and has an active project programme to generate new exploration projects in Australia and Nevada, USA. It has staked claims over the Strike Copper Project, the County Line Diatomite Project and the Garfield Gold-Silver-Copper Project in Nevada, USA and most recently has acquired an interest in the Bay State Silver Project.
The Company also holds diamond exploration interests in Finland and a white barite project in South-West Ireland.
Shares in the Company trade on AIM. EPIC: "SRES" www.sunriseresourcesplc.com