- Solaris Resources (SLS) has received approximately $30.4 million from the exercise of common share purchase warrants
- Additional warrants will expire in the second half of 2022 and the first half of 2023
- If exercised in full, the company will receive additional proceeds of $54.1 million
- The majority of the remaining warrants are held by management
- Solaris is a mineral exploration company operating in different parts of the Americas
- Shares of Solaris Resources Inc. were up 7.102 per cent, trading at $11.16 at 10:53 AM ET
Solaris Resources (SLS) has received approximately $30.4 million from the exercise of common share purchase warrants.
Additional warrants will expire in the second half of 2022 and the first half of 2023. If exercised in full, the company will receive additional proceeds of $54.1 million.
Approximately 63 per cent of the remaining outstanding warrants are held by management, and primarily by the company’s Executive Chairman, Richard Warke.
“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,” said Daniel Earle, President & CEO.
Solaris is advancing a portfolio of copper assets in the Americas, focused on its Warintza Project in Ecuador which 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 per cent interest in the La Verde joint-venture with Teck Resources in Mexico.
Shares of Solaris Resources Inc. were up 7.102 per cent, trading at $11.16 at 10:53 AM ET.