Sunrise Resources plc has secured an 18-month extension to the second convertible security, due to mature on 7 June 2025, with holder Convertible Net Zero.
FLEXIBILITY
The outstanding balance of £123,000 is now due to convert into ordinary shares in full on 7 December 2026.
Among other amendments, Sunrise agreed the option to make interest and penalty free monthly cash repayments towards the outstanding balance of up to £10,000 per
month.
“The amendments to the convertible being announced today provide added flexibility to
the company and allows the company the choice to make cash repayment of any
outstanding balance over time, in lieu of conversion,” said executive chairman Patrick Cheetham.
“We are grateful for TNZ’s continued support while the company advances its diverse portfolio of projects.”
Sunrise’s projects cover perlite, pozzalan and sepiolite, base and precious metals, diatomite and limestone as well as gold and diatomite royalty interests all in Nevada, USA and one project in Australia.