Fundraising and Restoration of Trading on AIM
Sunrise Resources plc has conditionally raised £320,000 before expenses through the issue of 2,133,333,330 new Ordinary Shares at 0.015 pence per share, with each share including a warrant exercisable at 0.0175 pence within 12 months. Trading in the Company's shares on AIM will resume on 17 September 2026, following the closure of its Capital Access Window. Directors Patrick Cheetham and Adam Hainsworth participated in the placing, subscribing £15,000 and £20,000 respectively. The net funds raised will be used for general working capital and to advance preparatory work for drill testing gold and base metal projects in Nevada, USA, and Australia. Application has been made for the placing shares to be admitted to trading on AIM, expected around 23 September 2026.
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Further to its announcement of 9 September 2026, when the Company entered a Capital Access Window trading halt, Sunrise Resources plc (AIM: SRES), wishes to announce that it has conditionally raised £320,000 before expenses (“the Placing”) through the issue of 2,133,333,330 new Ordinary Shares of 0.001p each (the "Placing Shares”) at the price of 0.015 pence per Placing Share (the “Placing Price”).
The issue of the Placing Shares is conditional only on their admission to trading on AIM (“Admission”).
The Placing was arranged through the Company’s broker, AlbR Capital Limited (“AlbR”).
Each Placing Share will be issued with one warrant (the “Placing Warrants”) which will entitle the holder to apply for one new Ordinary Share in the capital of the Company at a price of 0.0175 pence per share at any time within 12 months from the date of issue. Should the average closing mid-market price of the Company's Ordinary Shares on AIM be equal to or greater than 0.0225 pence for five consecutive trading days from the date of issue of the Placing Warrants, the Company has the option to serve notice on the warrant holders to exercise the Placing Warrants and any Placing Warrants remaining unexercised after seven calendar days following the issue of such notice will be cancelled.
The issue of the Placing Shares is subject to Shareholder approval and a Shareholder Circular and a Notice of General Meeting will be issued in due course.
Following this announcement, the Capital Access Window has now closed and trading in the Company's Ordinary Shares on AIM will resume at 7:30 a.m. on 17 September 2026.
Directors Participation
Mr Patrick Cheetham, Executive Chairman of the Company, and Mr Adam Hainsworth, a non-executive director of the Company, have participated in the Placing and have subscribed £15,000 for 100,000,000 Placing Shares and £20,000 for 133,333,333 Placing Shares respectively. Their interests in the capital of the Company following Admission is as shown in the following table:
| Director | Number of Placing and Additional Shares | Total interest in Ordinary Shares Following Admission | % of Company's issued share capital following Admission |
|---|---|---|---|
| Patrick Cheetham | 100,000,000 | 992,995,526 | 8.63% |
| Adam Hainsworth | 133,333,333 | 665,529,265 | 5.78% |
Broker Warrants
Under the terms of its engagement dated 1 October 2025, AlbR will be issued with 106,666,667 warrants (the “Broker Warrants”), each Broker 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 Admission.
Use of Proceeds
The net funds raised pursuant to the Placing will be applied to general working capital and to advance the Company’s preparatory work for drill testing of various gold and base metal projects held in Nevada, USA and Australia. This includes geophysical exploration at the Reese Ridge and Lake projects in Nevada, USA.
Admission
Application is being made for the Placing Shares, which will rank pari passu with all existing Ordinary Shares, to be admitted to trading on AIM and Admission is expected to occur on or around 23 September 2026.
Total Voting Rights
For 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 of the Placing Shares, the Company's issued share capital will consist of 11,508,466,366 Ordinary Shares with a nominal value of 0.001p each, with voting rights ("Ordinary Shares"). The Company does not hold any Ordinary Shares in Treasury. Therefore, the total number of Ordinary Shares in the Company with voting rights will be 11,508,466,366 This figure may be used by shareholders in the Company as denominator for the calculations by which they may determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
Nominated Adviser
| 1 | Details of the person discharging managerial responsibilities I person closely associated | |
| a) | Name | Patrick Cheetham |
| 2 | Reason for the notification | |
| a) | Position/status | Executive Chairman |
| b) | Initial notification /Amendment | Initial notification |
| a) | Name | Sunrise Resources plc |
| b) | LEI | 213800MGDOE974QHPZ44 |
| a) | Description of the financial instrument, type of instrument | Ordinary Shares of 0.001 pence each |
| Identification code | GB00B075Z681 | |
| b) | Nature of the transaction | Subscription for shares in Placing. |
| c) | Price(s) and volume(s) | Participation in Placing Price(s) Volume 0.015 pence 100,000,000 |
| d) | Aggregated information - Aggregated volume - Price | N/A (Single transaction) |
| e) | Date of the transaction | 17 September 2026 07:00 GMT |
| f) | Place of the transaction | Outside a trading venue (XOFF) |
| 1 | Details of the person discharging managerial responsibilities I person closely associated | |
| a) | Name | Adam Hainsworth |
| 2 | Reason for the notification | |
| a) | Position/status | Non-executive Director |
| b) | Initial notification /Amendment | Initial notification |
| a) | Name | Sunrise Resources plc |
| b) | LEI | 213800MGDOE974QHPZ44 |
| a) | Description of the financial instrument, type of instrument | Ordinary Shares of 0.001 pence each |
| Identification code | GB00B075Z681 | |
| b) | Nature of the transaction | Subscription for shares in Placing |
| c) | Price(s) and volume(s) | Participation in Placing Price(s) Volume 0.015 pence 133,333,333 |
| d) | Aggregated information - Aggregated volume - Price | N/A – Single transaction |
| e) | Date of the transaction | 17 September 2026 07:00 GMT |
| f) | Place of the transaction | Outside a trading venue (XOFF) |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.