Sunrise Energy Metals (ASX:SRL) received firm commitments to raise AU$18.9 million, via a conditional placement of 3.9 million new ordinary shares at AU$4.90 per share, according to a Wednesday Australian bourse filing.
The offer price represents a 15.3% premium to the company's placement price of AU$4.25 on Nov.17, the filing said.
The funds will be used to start pre-construction at the Syerston scandium project, the filing added.
Shares of the company rose 3% in recent Wednesday trade.
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