Solaris Resources Inc. received approximately C$30.4 million from the exercise of common share purchase warrants.
Further warrant expirations occur in 2H22 and 1H23 and, if exercised in full, would generate additional proceeds of C$54.1 million. Of these, approximately 63% of the remaining outstanding warrants are held by management, and primarily by the company’s executive chairman, Richard Warke.
Daniel Earle, President and CEO, commented: “With last year’s intensive resource drilling program at Warintza Central having established a voluminous mineral resource estimate and a robust starter pit, we are now directing our efforts towards immediate high-impact drilling aimed at expanding the starter pit into open extensions of near-surface high-grade mineralization at Warintza Central, expanding the minimal-drilling discovery at Warintza East and testing the potential of the nearby discovery at Warintza East. Warintza West.
Read the article online at: https://www.globalminingreview.com/finance-business/13052022/solaris-receives-can30-million-from-warrant-exercises/