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Sunrise Resources raises new capital to support progress at CS project

"We are pleased to welcome new shareholders to our register which share the board's vision for the company."
cash money, sterling
Some 285.7mln new shares are being sold at a price of 0.14p

Sunrise Resources Plc (LON:SRES) has raised £400,000 in a share placing to support the company’s CS Pozzolan-Perlite Project in Nevada, USA.

Some 285.7mln new shares are being sold at a price of 0.14p each.

READ: Sunrise Resources jumps higher on news of CS project progress

In a statement the company said that it will use the new capital will be used as it continues mine planning and permitting process work, and, as it continues customer trials of its cement ingredient products.

"We are pleased to welcome new shareholders to our register which share the board's vision for the company and we look forward to reporting on future progress as we advance the CS Project towards production and build our customer base," said Patrick Cheetham, Sunrise executive chairman.

The placing was arranged by SVS Securities, which is now named as the company’s joint broker.

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