Sunrise Resources PLC (LON:SRES), the diversified mining explorer, told investors it had raised £120,000 in a placing and subscription to be used for exploration in Nevada and Australia and for working capital.
The firm issued around 45mln shares in the placing and 63.6mln shares in the subscription - both at 0.11p - around a 26% discount to Friday’s closing price of 0.15p.
It also issued around 9mln shares to joint broker Beaufort Securities in respect of fees, it said.
Executive chairman Patrick Cheetham, via his self-invested personal pension, subscribed for £50,000 worth of shares in the subscription and is now beneficially interested in around 8.61% of the firm's share capital.