Solaris Closes $80.6 Million Private Placement

About this update from Solaris Resources Inc

[{"type":"text","content":"\n \n \n \n Solaris Closes $80.6 Million Private Placement\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n THE UNITED STATES\n \n NEWSWIRE SERVICES\n \n OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n VANCOUVER, BC\n \n ,\n \n Dec. 31, 2020\n \n /CNW/ -\n \n Solaris Resources Inc\n \n . (TSXV: SLS) (\"\n \n Solaris\n \n \" or the \"\n \n Company\n \n \") is pleased to announce the closing of its previously announced non-brokered private placement of 15.5 million units (\"\n \n Units\n \n \") at a price of\n \n C$5.20\n \n per Unit for total gross proceeds of\n \n C$80.6 million\n \n (the \"\n \n Private Placement\n \n \").\n \n \n \n \n \n \n \n \n \n Each Unit is comprised of one common share of the Company (a \"\n \n Common Share\n \n \") and one half of one common share purchase warrant (a \"\n \n Warrant\n \n \"). Each Warrant entitles the holder to purchase one Common Share for a period of two years at an exercise price of\n \n C$6.75\n \n .\n \n \n The net proceeds from the Private Placement will be used to fund exploration activities, technical studies, community social relations programs and permitting at the Company's projects and for general and working capital purposes. The Common Shares and Warrants issued under the Private Placement are subject to a statutory hold period that will expire on\n \n May 1, 2021\n \n .\n \n \n The Private Placement was subscribed by the Company's insiders and strategic partners including\n \n Richard Warke\n \n , Equinox Gold Corp., and trusts established by the Lundin family and other strategic investors.\n \n \n Mr.\n \n Daniel Earle\n \n , President & CEO, commented, \"We greatly appreciate the steadfast support of our largest shareholders who subscribed for the majority of this placement; namely,\n \n Richard Warke\n \n , our Executive Chairman, Equinox Gold, and trusts established by the Lundin Family. We are also delighted to welcome new global institutional investors to our shareholder bas...

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