Sunrise Resources Plc Placing and Total Voting Rights (6237V)
24 July 2018 - 11:45PM
UK Regulatory
TIDMSRES
RNS Number : 6237V
Sunrise Resources Plc
24 July 2018
24 July 2018
SUNRISE RESOURCES PLC
("Sunrise" or "the Company")
Placing and Total Voting Rights
Sunrise 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
GBP400,000 before expenses through a conditional placing of
285,714,285 new ordinary shares of 0.1p each (the "Placing Shares")
at a price of 0.14p per share ("the "Placing").
The Placing was arranged by SVS Securities Plc ("SVS") and SVS
has been appointed as a Joint Broker to the Company.
Use of Proceeds
The net funds raised will be applied primarily to the Company's
CS Pozzolan-Perlite Project in Nevada; to continue the mine
planning and permitting process and to continue customer
trials.
Commenting today, Patrick Cheetham, Executive Chairman said: "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."
Admission to Trading and Total Voting Rights
The Placing Shares, which represent 11.76 per cent. of the
Company's enlarged issued share capital, 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 issue of the Placing Shares is conditional, inter alia, 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 7 August 2018.
Immediately following Admission, the Company's issued share
capital will comprise 2,429,865,638 Ordinary Shares with one voting
right per share. There are no shares held in treasury and the total
number of voting rights in the Company is therefore 2,429,865,638.
This figure of 2,429,865,638 Ordinary Shares may be used by
shareholders in the Company as the denominator for the calculations
by which they will determine if they are required to notify their
interest in, or a change in their interest in, the share capital of
the Company under the FCA's Disclosure Guidance and Transparency
Rules.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
Further information:
Sunrise Resources plc
Patrick Cheetham, Executive Chairman Tel: +44 (0)1625 838 884
Northland Capital Partners Limited
Nominated Adviser & Broker
Matthew Johnson/Edward Hutton/
Jamie Spotswood
Isabella Pierre Tel: +44 (0)20 3861 6625
SVS Securities Plc
Joint Broker
Tom Curran/Ben Tadd Tel: +44 (0)203 700 0093
About Natural Pozzolan
Pozzolan is a cementitious material that can partially replace
ordinary Portland cement in cement and concrete mixes in amounts up
to 35%. Natural pozzolans, therefore, have strong "green"
credentials as the production of Portland cement is responsible for
5% of the global man-made carbon dioxide emissions with nearly one
tonne of carbon dioxide (CO(2) ) generated for each tonne of cement
produced. Natural pozzolans can also improve the strength and
chemical resistance of concrete. Natural pozzolans can also replace
industrial by-product pozzolans in cement such as coal fly ash. The
availability and quality of fly ash is under threat as coal-fired
power stations are phased out in favour of natural gas plants and
fly ash quality becomes more variable due to increased emission
control legislation.
About Perlite
Perlite is a glassy raw material which, when heated in a
furnace, pops like popcorn and expands by up to 20 times in volume
into a white or pale coloured, low density material. Expanded
perlite is used in various industrial and household applications
such as insulation, paint texturing, building materials, filter
aids, insulating industrial cryogenic storage vessels and as a
potting medium in gardening and horticulture to aid water retention
and aeration of the soil. Some perlites can also be used as a
natural pozzolan.
Note:
The news release may contain certain statements and expressions
of belief, expectation or opinion which are forward-looking
statements, and which relate, inter alia, to the Company's proposed
strategy, plans and objectives or to the expectations or intentions
of the Company's directors. Such forward-looking statements involve
known and unknown risks, uncertainties and other important factors
beyond the control of the Company that could cause the actual
performance or achievements of the Company to be materially
different from such forward-looking statements. Accordingly, you
should not rely unduly on any forward-looking statements and save
as required by the AIM Rules for Companies or by law, the Company
does not accept any obligation to disseminate any updates or
revisions to such forward-looking statements.
Shares in the Company trade on AIM. EPIC: "SRES". Website:
www.sunriseresourcesplc.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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