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Solaris Receives $30 Million from Warrant Exercises; Fully Funded Through to Mid-2023

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Solaris Receives $30 Million from Warrant Exercises; Fully Funded Through to Mid-2023

 

 

 

 

 

Solaris Resources Inc. (TSX: SLS) (OTCQB: SLSSF) is pleased to announce that the Company has received approximately C$30.4 million from the exercise of common share purchase warrants.

 

Further warrant expiries occur in the second half of 2022 and first half of 2023 and, if exercised in full, would generate additional proceeds of C$54.1 million. Of these, approximately 63% of the remaining outstanding warrants are held by management, and primarily by the Company’s Executive Chairman, Mr. Richard Warke.

 

Mr. Daniel Earle, President & CEO, commented: “With last year’s intensive resource drilling program at Warintza Central having established a voluminous mineral resource estimate and robust starter pit, we are now directing our efforts to immediate high-impact drilling aimed at expanding the starter pit in open extensions of near surface, high-grade mineralization at Warintza Central, expanding the minimally-drilled Warintza East discovery, and testing the potential of the nearby Warintza West discovery.”

 

About Solaris Resources Inc.

 

Solaris is advancing a portfolio of copper assets in the Americas, focused on its Warintza Project in Ecuador that features a broad cluster of outcropping copper porphyry deposits anchored by a large-scale, high-grade open pit resource inventory at Warintza Central. Ongoing efforts are focused on rapid resource growth and further discovery drilling. The Company offers additional discovery potential at its portfolio projects: Capricho and Paco Orco in Peru, Ricardo via joint-venture with Freeport-McMoRan and Tamarugo in Chile, and significant leverage to increasing copper prices through its 60%-interest in the La Verde joint-venture with Teck Resources in Mexico.

 

Posted May 13, 2022

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