Sunrise Resources PLC (LON:SRES) has now raised a total of £1mln as further shares were issued to satisfy demand from existing shareholders.
Peterhouse Capital raised an extra £250,000 through the issue of 89,285,714 shares as part of a broker option facility at a price of 0.28p per share.
The broker said there was “significant demand” for this additional tranche and that priority was given to existing shareholders in the company.
The shares were issued at the same price as the £750,000 placing arranged by Peterhouse on Monday, where the possibility of a broker option was noted.
Directors said the fundraising would allow the company to continue the development of its priority CS pozzolan-perlite project in Nevada, where the mine and reclamation permits have recently been granted.
Sunrise also plans to carry out some initial drill testing on its precious metal projects in the US state.