Nevada Sunrise Metals (TSX-V:NEV) has completed the second and final tranche of its private placement, raising an additional C$19,005 ($19,400).
Altogether, the company raised approximately C$1.06 million from both tranches through the sale of more than 35.17 million units priced at C$0.03 each. Most of the units — about 34.5 million — were issued under the first tranche.
The units each comprise one common share and one common share purchase warrant exercisable at C$0.05 per share for three years.
Certain insiders of the company participated in the financing, subscribing for 800,000 units and 100,000 units under the first and second tranches, respectively.
Nevada Sunrise plans to use a majority of the proceeds for mineral exploration and option payments across its project portfolio.
The Vancouver-based explorer holds interests in several gold, copper, and lithium exploration projects in Nevada, US.
Write to Jackson Chen at Mining.com.au
Image: Nevada Sunrise Metals
