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Solaris Resources Received Warrant Exercises of C$18.7 Million, Including Significant Exercise by Richard Warke at Premium to Market
VANCOUVER, British Columbia, Oct. 31, 2022 (GLOBE NEWSWIRE) -- Solaris Resources Inc. (TSX: SLS; OTCQB: SLSSF) (“Solaris” or “the Company”) is pleased to announ
About this update from Solaris Resources Inc
[{"type":"text","content":" VANCOUVER, British Columbia, Oct. 31, 2022 (GLOBE NEWSWIRE) -- Solaris Resources Inc. (TSX: SLS; OTCQB: SLSSF) (“Solaris” or “the Company”) is pleased to announce that the Company has received exercises of common share purchase warrants (“warrants”) totaling C$18.7 million since the Company’s last quarterly results dated August 9, 2022. Notably, the Company’s Executive Chairman, Mr. Richard Warke, exercised 2.3 million warrants at a price of C$6.75, representing a 37% premium to close of trading on Friday, October 28, 2022, for proceeds of C$15.5 million. Additionally, Mr. Warke exercised 0.6 million warrants at a price of C$1.20 for proceeds of C$0.7 million. A further 3.1 million warrants at a price of C$1.20 and 0.2 million warrants at a price of C$6.75 remain outstanding and expire by the end of 2022, and if exercised in full, would generate additional proceeds of C$4.9 million. Of these, approximately 50% of the remaining outstanding warrants are held by insiders. By May 2023, a further 25 million warrants expire at a price of C$1.20, and if exercised in full, would generate additional proceeds of C$30.0 million. Of these, approximately 98% are held by insiders. On behalf of the Board of Solaris Resources Inc. “Daniel Earle”President & CEO, Director For Further Information Jacqueline Wagenaar, VP Investor RelationsDirect: 416-366-5678 Ext. 203Email: [email protected] About 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 optioned and owned grass-roots 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. Cautionary Notes and Forward-looking Statements This document contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of the words “will” and “expected” and similar expressions are intended to identify forwa...