Contact Information: Contact: Sunrise Mining Corporation Phone: (626) 407-2618 Email: investor@sunrisemining.net
Sunrise Mining Corporation Announces Closing of $3 Million Private Placement
| Source: Sunrise Mining
LOS ANGELES, CA--(Marketwire - January 4, 2008) - Sunrise Mining Corporation (OTCBB : SUIP )
(the "Company") today announced that it has closed a private placement
financing for aggregate gross proceeds of $3,000,000.
The securities sold in this private placement were issued to three non-U.S.
investors as contemplated under Regulation S of the Securities Act of 1933
(the "Securities Act"). The private placement consisted of a total of
75,000,000 units sold at a price of $.04 per unit. Each unit consisted of
one share of the Company's common stock and one warrant, with each whole
warrant entitling the holder to purchase one additional share of the
Company's common stock at a price of $.10 per share for a period of three
years from the date of issuance.
The offering was approved by the Company's Board of Directors.
The Company intends to set up a wholly owned subsidiary in China and use
the proceeds to identify and develop projects in China.
About Sunrise Mining Corporation
Sunrise Mining Corporation is a junior resource company engaging in the
exploration and development of base and precious metal assets primarily in
Mongolia. The Company owns a 100% ownership interest in a prospective
copper/gold mining property called the Khul Morit property (Exploration
License No. 6283x) located in south central Mongolia that consists of
approximately 494 hectares.
The Common Stock of Sunrise Mining Corporation is trading on the OTC
Bulletin Board under the symbol "SUIP."
This news release does not constitute an offer to sell or a solicitation of
an offer to buy any of the Company's securities. The securities sold under
the Offering have not been registered under the United States Securities
Act of 1933, as amended, and may not be offered or sold within the United
States or to U.S. persons unless an exemption from such registration is
available.
Forward-Looking Statements
This Press Release may contain, in addition to historical information,
forward-looking statements. Statements in this news release that are
forward-looking statements are subject to various risks and uncertainties
concerning the specific factors disclosed under the heading "Risk Factors"
and elsewhere in the Company's periodic filings with the U.S. Securities
and Exchange Commission. When used in this news release, the words such as
"could," "plan," "estimate," "expect," "intend," "may," "potential,"
"should," and similar expressions, are forward-looking statements. The risk
factors that could cause actual results to differ from these
forward-looking statements include, but are not restricted to the Company's
limited operating history, uncertainties about the availability of
additional financing, geological or mechanical difficulties affecting the
Company's planned geological work programs, uncertainty of estimates of
mineralized material, operational risk, environmental risk, financial risk,
currency risk, dependence on joint venture partners and other statements
that are not historical facts as disclosed under the heading "Risk Factors"
and elsewhere in the Company's periodic filings with securities regulators
in the United States.