Business
Placing To Raise £200,000 & TVR
Placing To Raise £200,000 & TVR.
About this update from Sunrise Resources Plc
[{"type":"text","content":"\n \nRNS Number : 0783D Sunrise Resources Plc 14 February 2020 \n\n14 February 2020\nSUNRISE RESOURCES PLC\n(\"Sunrise\" or \"the Company\")\n \nPlacing To Raise £200,000 \n \nTotal Voting Rights \n \nSunrise Resources plc (ticker symbol '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 £200,000 before expenses, through a conditional placing (\"the Placing\") of 181,818,182 new Ordinary Shares of 0.1p each (the \"Placing Shares\") at a price of 0.11p per share (the \"Placing Price\") representing a discount of approximately 8.3% to the closing market bid-price of 0.12p on 13 February 2020.\n \nThe Placing was arranged through the Company's joint broker, Peterhouse Capital Limited (\"Peterhouse\"). Peterhouse will be issued with 9,090,909 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. \n \nUse of Proceeds\n \nThe net funds raised, in conjunction with existing cash resources, will be applied primarily to the completion of mine permitting for the Company's CS Pozzolan-Perlite Project in Nevada, the initial mine reclamation bond, the processing and provision of additional samples to potential customers and general working capital. \n \nThe Placing & Admission\n \nThe 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. \n \nThe Placing Shares represent approximately 5.52% of the Company's enlarged issued share capital. \n \nThe issue of the Placing Shares is, inter alia, conditional on their admission to trading on AIM (\"Admission\"). Application will be made for the Placing Shares to be admitted to trading on AIM and Admission is expected to occur on or around 19 February 2020. \n \nTotal Voting Rights\n \nFor the purposes of the Disclosure and Transparency Rules of the Financial Conduct Authority, the Board of Sunrise hereby notifies the market that further to Admission, the Company's issued share capital will consist of 3,296,130,055 ordinary shares with a ...