Solaris Resources Inc announced a private placement to issue 28,571,429 units at a price of CAD 4.55 per common share for gross proceeds up to CAD 129,589,864.95 on January 10, 2024. The transaction included participation from new investor, Zijin Mining Group Company Limited. Closing of the transaction is subject to customary conditions precedent and applicable regulatory approvals, including (i) receipt of the requisite approval of the TSX, receipt of regulatory approval under the Investment Canada Act, and receipt of regulatory approval from the relevant authorities in the People?s Republic of China.

The Common Shares will be subject to a statutory hold period in accordance with applicable securities laws. Upon closing of the transaction, Investor will own approximately 15% of the Common Shares on a fully diluted basis.