Business
Solitario Resources Completes US$4.5 Million Private Placement
DENVER, CO / ACCESS Newswire / June 20, 2025 / Solitario Resources Corp. ("Solitario" or the "Company") (NYSE American:XPL)(TSX:SLR) is pleased to announce that it has entered into non-brokered agreements with two investors for the purchase and sale ...
About this update from Solitario Resources Corp.
[{"type":"text","content":"DENVER, CO / ACCESS Newswire / June 20, 2025 / Solitario Resources Corp. ("Solitario" or the "Company") (NYSE American:XPL)(TSX:SLR) is pleased to announce that it has entered into non-brokered agreements with two investors for the purchase and sale of a total of 7,142,855 shares of Company common stock, at a price of US$0.63 per share for total gross proceeds of US$4.5 million (together, the "Offering"). One of the investors is Newmont Overseas Exploration Ltd. ("Newmont"), a wholly-owned subsidiary of Newmont Corporation. Newmont is an existing Solitario shareholder having made prior strategic investments in Solitario, including its August 2023 investment. The second investor is Wexford Capital Partners ("Wexford"), a private investment firm.","length":804,"tagName":"p"},{"type":"text","content":"Newmont Financing","length":17,"tagName":"p"},{"type":"text","content":"Newmont purchased 1,587,300 shares of the Company's common stock at a price of $0.63 per share through a stock purchase agreement between the Company and Newmont. With this new approximately US$1.0 million investment, Newmont now holds a total of 8,453,967 shares of the Company, or a 9.40% interest.","length":304,"tagName":"p"},{"type":"text","content":"In connection with this new investment, the Company and Newmont amended the Investor Rights Agreement previously entered into by the parties in 2023 to grant Newmont certain additional investor rights.","length":201,"tagName":"p"},{"type":"text","content":"Wexford Financing","length":17,"tagName":"p"},{"type":"text","content":"As part of the Offering, Wexford purchased 5,555,555 shares of common stock of the Company through a stock purchase agreement at a price of US$0.63 per share for proceeds of US$3.5 million to Solitario. Wexford now holds approximately a 6.2% interest in Solitario.","length":264,"tagName":"p"},{"type":"text","content":"Chris Herald, President and CEO of Solitario, stated: "We are delighted to welcome Wexford Capital to our growing list of institutional ownership. With Solitario's current cash position in excess of US$9.0 million, we now have the funding to conduct follow-up drilling not only on the existing Golden Crest Plan of Operations, but also the Ponderosa Plan of Operations, when approved. Drilling has been initiated on the ...