Solaris Closes $54 Million in Financing

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10/06/2024 15:52
June 10, 2024 – Vancouver, B.C. – Solaris Resources Inc. (TSX: SLS; NYSE: SLSR) (“Solaris” or the “Company”) is pleased to announce that it has closed its previously announced bought deal equity offering (the “Offering”). The Company issued, on a bought deal basis, 8,222,500 common shares of the Company (“Common Shares”), including 1,072,500 Common Shares pursuant to the underwriters’ full exercise of the over-allotment option, at a price of $4.90 per Common Share for aggregate gross proceeds of $40,290,250.

The Offering was completed pursuant to an underwriting agreement dated May 27, 2024, between the Company and a syndicate of underwriters led by National Bank Financial Markets, RBC Capital Markets and BMO Capital Markets, as Joint Bookrunners.

The net proceeds of the Offering will be used to fund an expanded exploration and infill drilling program at the Company’s flagship Warintza Project in southeastern Ecuador, together with enhanced regional exploration activities, including fieldwork on ten new exploration concessions which were recently awarded to the Company, and for working capital and general corporate purposes.

The Company also issued, on a private placement basis, 2,795,102 Common Shares at a price of $4.90 per Common Share for aggregate gross proceeds of $13,696,000 (US$10,000,000) pursuant to the drawdown of its second equity tranche of the Company’s previously announced offtake financing package. See the Company’s news release dated December 11, 2023, for additional information.

Unless otherwise stated, all dollar amounts disclosed herein are expressed in Canadian dollars.

This news release does not constitute an offer to sell or a solicitation of an offer to buy the Common Shares nor shall any sale of the Common Shares occur in any jurisdiction, including the United States, in which such offer, solicitation or sale is unlawful. The securities have not been and will not be registered under the U.S. Securities Act or any securities laws of any state of the United States and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable securities laws of any state of the United States unless an exemption from such registration requirements is available.

On behalf of the Board of Solaris Resources Inc.

“Daniel Earle”
President & CEO, Director

For Further Information

Jacqueline Wagenaar, VP Investor Relations
Direct: 416-366-5678 Ext. 203

About Solaris Resources Inc.

Solaris is advancing a portfolio of copper and gold assets in the Americas, which includes a world class copper resource with expansion and discovery potential at its Warintza Project in Ecuador; a series of grass roots exploration projects with discovery potential in Peru and Chile; and significant leverage to increasing copper prices through its 60% interest in the La Verde joint-venture project with a subsidiary of Teck Resources in Mexico.

Cautionary Notes and Forward-Looking Statements

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