Nevada Sunrise Metals (TSX-V:NEV) has raised nearly C$1.04 million ($1.06 million) after completing the first tranche of its recently announced private placement.
The company announced in early June that it planned to issue 42 million units at C$0.03 each. Each unit comprises one common share and one common share purchase warrant exercisable at C$0.05 per share for three years.
Under the first tranche, Nevada Sunrise issued about 34.5 million units. It also paid Canaccord Genuity a finder’s fee of C$12,600 in cash and 420,000 warrants.
As outlined in the original financing announcement, the company plans to use most 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.
Write to Jackson Chen at Mining.com.au
Images: Nevada Sunrise Metals
