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Solaris receives CAN$30 million from warrant exercises

Published by , Deputy Editor
Global Mining Review,

Solaris Resources Inc. has received approximately CAN$30.4 million from the exercise of common share purchase warrants.

Further warrant expiries occur in 2H22 and 1H23 and, if exercised in full, would generate additional proceeds of CAN$54.1 million. Of these, approximately 63% of the remaining outstanding warrants are held by management, and primarily by the company’s Executive Chairman, Richard Warke.

Daniel Earle, President and CEO, commented: “With last year’s intensive resource drilling programme 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 mineralisation at Warintza Central, expanding the minimally-drilled Warintza East discovery, and testing the potential of the nearby Warintza West discovery.”

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