Solaris Resources (“SLS”) has announced a bought deal offering, raising C$35m in equity at a price of C$4.90/sh, a day after voluntarily terminating the strategic investment by Zijin Mining (“Zijin”) announced in January. With the goalposts seemingly having shifted for permitting of Chinese investment in Canadian firms – partly due to greater awareness of the criticality of copper supply - we see removal of the “regulatory overhang” as an opportunity for SLS to refocus on organic growth at Warin ....
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22 May 2024
Solaris Resources: Strategic investment annulled in favour of bought deal equity offer, with refocus on Warintza’s organic growth
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Solaris Resources: Strategic investment annulled in favour of bought deal equity offer, with refocus on Warintza’s organic growth
Solaris Resources (“SLS”) has announced a bought deal offering, raising C$35m in equity at a price of C$4.90/sh, a day after voluntarily terminating the strategic investment by Zijin Mining (“Zijin”) announced in January. With the goalposts seemingly having shifted for permitting of Chinese investment in Canadian firms – partly due to greater awareness of the criticality of copper supply - we see removal of the “regulatory overhang” as an opportunity for SLS to refocus on organic growth at Warin ....