Solaris Files Final Short Form Prospectus in connection with Common Share Bought Deal Offering
Solaris Resources (TSX: SLS; NYSE: SLSR) has filed a final short form prospectus for its previously announced bought deal offering. The offering involves the distribution of 7,150,000 common shares at $4.90 per share, with an additional 1,072,500 shares available through an over-allotment option. This transaction is expected to close around June 10, 2024, pending regulatory approvals from the Toronto Stock Exchange and the NYSE American The prospectus is available on SEDAR+.
- Filed final prospectus for bought deal offering.
- Planned distribution of 7,150,000 common shares at $4.90 per share.
- Over-allotment option for an additional 1,072,500 shares.
- Expected closing date of the offering is June 10, 2024.
- Prospectus accessible on SEDAR+.
- Offering subject to regulatory approvals, which may cause delays.
- Securities not registered under the U.S. Securities Act.
- Potential dilution for existing shareholders with new share issuance.
Insights
The filing of a final short form prospectus and the impending closing of the bought deal offering by Solaris Resources Inc. indicates a significant capital-raising move. The company aims to distribute a total of 8,222,500 common shares at
For retail investors, the offering price is critical. The prospectus mentions an offering price of
Another key aspect is the regulatory approvals necessary for the offering to close, including those from the Toronto Stock Exchange and NYSE American LLC. While these approvals are typically procedural, any delays or rejections could impact investor confidence.
The issuance of new shares by Solaris Resources Inc. through a bought deal offering reflects current market conditions and investor appetite. A bought deal offering implies that underwriters have committed to buying the entire block of shares for resale, indicating confidence in Solaris' market position and growth prospects. Such offerings can be attractive as they are typically executed swiftly and offer certainty of funds.
This move by Solaris can be seen as a proactive measure to tap into existing market interest, especially if there is a positive outlook on the commodities or mining sectors. The cash infusion will likely be directed towards expanding operations or enhancing production capabilities, pertinent in capital-intensive industries like mining.
For retail investors, observing the underwriters involved and their commitment level can provide additional confidence. The success of the offering might also reflect broader market conditions, particularly investor sentiment towards resource-based stocks.
Final Short Form Prospectus Accessible on SEDAR+
VANCOUVER, British Columbia, June 03, 2024 (GLOBE NEWSWIRE) -- Solaris Resources Inc. (TSX: SLS; NYSE: SLSR) (“Solaris” or the “Company”) is pleased to announce that, in connection with its previously announced bought deal offering, it has filed a final short form prospectus dated June 3, 2024 (the “Final Prospectus”) to qualify the distribution of 7,150,000 common shares of the Company (the “Common Shares”) at a price of
The Offering is expected to close on or about June 10, 2024, and is subject to regulatory approvals, including the approval of the Toronto Stock Exchange and the NYSE American LLC.
This news release does not constitute an offer to sell or a solicitation of an offer to buy the Common Shares nor shall any sale of the Common Shares occur in any jurisdiction, including the United States, in which such offer, solicitation or sale is unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any securities laws of any state of the United States and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable securities laws of any state of the United States unless an exemption from such registration requirements is available.
Access to the Final Prospectus and any amendment is provided in accordance with securities legislation relating to procedures for providing access to a short form prospectus and any amendment. The Final Prospectus is accessible on SEDAR+ at www.sedarplus.ca.
On behalf of the Board of Solaris Resources Inc.
“Daniel Earle”
President & CEO, Director
For Further Information
Jacqueline Wagenaar, VP Investor Relations
Direct: 416-366-5678 Ext. 203
Email: jwagenaar@solarisresources.com
About Solaris Resources Inc.
Solaris is advancing a portfolio of copper and gold assets in the Americas, which includes a world class copper resource with expansion and discovery potential at its Warintza Project in Ecuador; a series of grass roots exploration projects with discovery potential in Peru and Chile; and significant leverage to increasing copper prices through its
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 forward-looking statements. These statements include statements regarding the terms and completion of the Offering, and the expected closing date of the Offering. Although Solaris believes that the expectations reflected in such forward-looking statements and/or information are reasonable, readers are cautioned that actual results may vary from the forward-looking statements. The Company has based these forward-looking statements and information on the Company’s current expectations and assumptions about future events. 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 Management’s Discussion and Analysis, for the year ended December 31, 2023 available at www.sedarplus.ca. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and Solaris does not undertake any obligation to publicly update or revise any of these forward-looking statements except as may be required by applicable securities laws.
FAQ
What is the expected closing date for Solaris's bought deal offering?
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