Solaris Receives $30 Million from Warrant Exercises; Fully Funded Through to Mid-2023
13 Mai 2022 - 1:00PM
Solaris Resources Inc. (TSX: SLS; OTCQB: SLSSF)
(“Solaris” or the “Company”) is pleased to announce that the
Company has received approximately C$30.4 million from the exercise
of common share purchase warrants (“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.”
On behalf of the Board of Solaris
Resources Inc.“Daniel Earle”President & CEO,
Director
For Further Information
Jacqueline Wagenaar, VP Investor RelationsDirect: 416-366-5678
Ext. 203Email: jwagenaar@solarisresources.com
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.
Cautionary Notes and Forward-looking
Statements
This document contains certain forward-looking
information and forward-looking statements within the meaning of
applicable securities legislation (collectively “forward-looking
statements”). The use of the words “will”, “expected”, “targeting”
and similar expressions are intended to identify forward-looking
statements. These statements include statements that the Company is
fully funded through to mid-2023, that 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, in which approximately 63% of the remaining outstanding
warrants are held by management, and primarily by the Company’s
Executive Chairman, Mr. Richard Warke, and that the Company is
directing its 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. Although Solaris
believes that the expectations reflected in such forward-looking
statements and/or information are reasonable, readers are cautioned
that actual results may vary from the forward-looking statements.
These statements are based on a variety of assumptions including
assumptions made about warrant-holders exercising their warrants;
that the warrants due for expiry in 2022 and 2023 will continue to
be in the money; the Company’s ability to advance exploration
efforts at the Warintza Project; the results of such exploration
efforts; the Company’s ability to secure adequate financing; and
the Company’s ability to achieve its growth objectives. These
statements also involve known and unknown risks, uncertainties and
other factors that may cause actual results or events to differ
materially from those anticipated in such forward-looking
statements, including the risks, uncertainties and other factors
identified in the Solaris Annual Information Form for the year
ended December 31, 2021 available at www.sedar.com. Furthermore,
the forward-looking statements contained in this news release are
made as at the date of this news release and Solaris does not
undertake any obligation to publicly update or revise any of these
forward-looking statements except as may be required by applicable
securities laws.
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