Solaris Resources: Press Releases
Summary
It boasts an unprecedented track record of growth from its origins operating a single gold mine in the early 1990s to becoming a global major operating in 16 countries with total revenue far in excess of its gold mining peers, including excepted top five-ranked copper production in 2024. We take tremendous pride in announcing our new strategic partnership with Zijin and look forward to leveraging its deep technical expertise and financial capacity in delivering the full potential of one of the last remaining greenfield copper districts at low elevation and adjacent to infrastructure available globally.The Company will use the proceeds of the Private Placement for the advancement and development of the Companys flagship Warintza Project in southeastern Ecuador (Warintza or the Project) and for working capital and general corporate purposes.Pursuant to the Subscription Agreement, Zijin will be permitted to nominate a member to the board of directors of the Company for so long as Zijin owns, controls or directs at least 5% of the outstanding Common Shares. The Common Shares will be subject to a statutory hold period in accordance with applicable securities laws.A copy of the Subscription Agreement will be filed on the Companys profile on SEDAR+ at www.sedarplus.ca. An early warning report will be filed by Zijin in accordance with applicable Canadian securities laws and will be available on SEDAR+ at www.sedarplus.ca.China International Capital Corporation Hong Kong Securities Limited and Minmetals Securities Co., Ltd acted as Solaris transactional advisors in connection with the Private Placement.All dollar amounts are expressed in Canadian dollars unless indicated otherwise.On behalf of the Board of Solaris Resources Inc.Solaris is a multi-asset exploration company, advancing a portfolio of copper and gold assets in the Americas, which includes: its primary focus, a world class large-scale resource with expansion and discovery potential at the Warintza Project in Ecuador; discovery potential at its Ricardo Project and Tamarugo Project in Chile; discovery potential at its Capricho and Paco Orco projects in Peru; 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.This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively forward-looking statements). 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 Managements Discussion and Analysis, for the year ended December 31, 2022 available at www.sedarplus.ca.