VANCOUVER, March 19, 2019 /CNW/ - Solaris Copper Inc. ("Solaris" or the "Company") is pleased to announce it has closed a C$3.9 million non-brokered private placement financing (the "Private Placement").
Pursuant to the Private Placement, Solaris issued 15,736,000 common shares of the Company at a price of C$0.25 per common shares for gross proceeds to the Company of C$3,934,000. No fees or commissions were paid in connection with the Private Placement. The common shares issued pursuant to the Financing are subject to a four-month hold expiring on July 19, 2019.
Solaris intends to use the net proceeds of the Private Placement to advance exploration permitting at its mineral claims and for general and working capital purposes.
On behalf of the Board of Solaris Copper Inc.
CEO & Director
About Solaris Copper
Solaris Copper is a multi-asset exploration company advancing copper projects in the Americas. The Company is focused on advancing its 100%-owned Warintza copper-molybdenum property in Ecuador and holds a 100% interest in the Ricardo early-stage copper-molybdenum property in Chile which is under option to a subsidiary of Freeport-McMoRan. Solaris Copper also holds a 60% interest in the La Verde advanced-stage copper-silver-gold property in Mexico with the remaining 40% held by a subsidiary of Teck Resources and has earn-in agreements for two early-stage base metals projects in Peru. Solaris Copper operates as a reporting issuer but is not currently listed on a designated stock exchange.
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", "may", "can", and similar expressions are intended to identify forward-looking statements. Forward-looking statements contained in this press release include statements regarding planned exploration and development activities at the Company's projects. Although Solaris Copper believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since Solaris Copper can give no assurance that such expectations will prove to be correct. These statements 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 Solaris Copper's periodic filings with Canadian securities regulators. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and Solaris Copper does not undertake any obligations to publicly update and/or revise any of the included forward-looking statements, whether as a result of additional information, future events and/or otherwise, except as may be required by applicable securities laws
SOURCE Solaris Copper Inc.
For further information: Greg Smith, CEO, (604) 558-0560, [email protected]