Sundance Resources Limited announced that it expects to receive AUD 0.75 million in funding from AustSino Resources Group Limited

Sundance Resources Limited (ASX:SDL) announced that it has entered into an agreement for private placement of 187,500,000 fully paid ordinary shares at a price of AUD 0.004 per share for gross proceeds of AUD 750,000 on August 1, 2018. The transaction will include participation from new investor AustSino Resources Group Limited (DB:GHJ). The transaction is expected to close on August 6, 2018.

As part of the transaction, the investor will acquire 2.3% stake in the company.