Issue of Equity

RNS Number : 4358C

Sunrise Resources Plc

19 January 2015

 



19 January 2015

SUNRISE RESOURCES PLC

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  70,000,000 new Ordinary Shares of 0.1p each (the "Placing Shares") with an institutional investor at a price of 0.3p 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 12.1 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 22 January 2015.

Total voting rights

Following Admission, the number of Ordinary Shares in issue will increase to 578,337,320. 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:	[phone]
Northland Capital Partners Limited Edward Hutton/David Hignell Charles Laughton/ Alice Lane (Broking)	Tel:	[phone]
Yellow Jersey PR Limited Dominic Barretto/Kelsey Traynor	Tel:	[phone]

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

 

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