Brief: Solaris Announces $130 Mln Strategic Investment By Zijin Mining Group

Solaris Resources

11/01/2024 11:40

Jan 11 (Reuters) - Solaris Resources Inc  SLS.TO :
    * SOLARIS ANNOUNCES $130 MILLION STRATEGIC INVESTMENT BY
ZIJIN
MINING GROUP
    * SOLARIS RESOURCES INC - ZIJIN WILL INVEST APPROXIMATELY
$130
MILLION BY WAY OF A PRIVATE PLACEMENT OF COMMON SHARES
    * SOLARIS RESOURCES INC - WILL ISSUE TO AN AFFILIATE OF
ZIJIN AN
AGGREGATE OF 28.5 MILLION COMMON SHARES AT A SUBSCRIPTION PRICE
OF $4.55 PER COMMON SHARE
    * SOLARIS RESOURCES INC- UPON CLOSING OF PRIVATE PLACEMENT,
ZIJIN
WILL OWN APPROXIMATELY 15% OF COMMON SHARES ON A FULLY DILUTED
BASIS
    * SOLARIS RESOURCES- POST SUBSCRIPTION DEAL, ZIJIN CAN
NOMINATE
MEMBER TO BOARD OF CO AS LONG AS ZIJIN CONTROLS AT LEAST 5% OF
OUTSTANDING COMMON SHARES
    * SOLARIS RESOURCES INC- WILL USE PROCEEDS OF PRIVATE
PLACEMENT
FOR ADVANCEMENT, DEVELOPMENT OF CO'S FLAGSHIP WARINTZA PROJECT
IN SOUTHEASTERN ECUADOR

Source text for Eikon:  ID:nGNX4WwCxL 
Further company coverage:  SLS.TO 

 ((Reuters.Briefs@thomsonreuters.com;))