/NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED
STATES/
VANCOUVER, BC, Dec. 22, 2020 /CNW/ - Solaris Resources
Inc. (TSXV: SLS) ("Solaris" or the "Company") is
pleased to announce that the Company has increased the size of its
previously announced private placement (see press release
dated December 14, 2020) to 15.5
million units ("Units") at a price of C$5.20 per Unit for total gross proceeds of
C$80.6 million (the "Private
Placement").
Each Unit is comprised of one common share of the Company (a
"Common Share") and one half of one common share purchase
warrant (a "Warrant"). Each Warrant entitles the holder to
purchase one Common Share for a period of two years at an exercise
price of C$6.75.
The net proceeds from the Private Placement will be used to fund
exploration activities, technical studies, community social
relations programs and permitting at the Company's projects and for
general and working capital purposes. The Common Shares and
Warrants issued under the Private Placement will be subject to a
statutory hold period in Canada of
four months and one day following the closing date.
The securities to be offered pursuant to the Private Placement
have not been, and will not be, registered under the U.S.
Securities Act of 1933, as amended (the "U.S. Securities
Act") or any U.S. state securities laws, and may not be offered
or sold in the United States
absent registration under the U.S. Securities Act and all
applicable U.S. state securities laws or compliance with the
requirements of exemptions therefrom. This news release shall not
constitute an offer to sell or the solicitation of an offer to buy
securities in the United States,
nor shall there be any sale of these securities in any jurisdiction
in which such offer, solicitation or sale would be unlawful.
A finder's fee commensurate with TSX Venture Exchange policies
will be paid where applicable. Closing of the Private Placement is
subject to certain conditions including, but not limited to, the
receipt of all necessary regulatory and other approvals including
the conditional approval of the TSX Venture Exchange.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in polices of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release. The statements made in this press release may contain
certain forward-looking statements that involve a number of risks
and uncertainties. Actual events or results may differ from
the Company's expectations.
On behalf of the Board of Solaris Resources Inc.
"Daniel Earle"
President & CEO, Director
About Solaris Resources Inc.
Solaris is advancing a portfolio of copper and gold assets in
the Americas, which includes: a high-grade resource with expansion
and additional discovery potential at the Warintza copper and gold
project in Ecuador; discovery
potential on the grass-roots Tamarugo project in Chile and Capricho and Paco Orco projects in Peru; exposure to US$130M spending / 5-yrs through a farm-out
agreement with Freeport-McMoRan on the Ricardo Project in
Chile; and significant leverage to
increasing copper prices through the 60%-interest in the
development-stage La Verde
joint-venture project with Teck Resources in Mexico.
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"), such as that
Solaris will offer 15,500,000 Units at C$5.20 per Unit for gross proceeds of
C$80,600,000 pursuant to the Private
Placement; the terms of the Private Placement; that a Private
Placement will occur at all; and the proposed use of proceeds from
the Private Placement. The use of the words
"will" and similar expressions are intended
to identify forward-looking statements. Although Solaris 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 can give no
assurance that such expectations will prove to be correct. Such
forward-looking statements are based on several assumptions,
including that the TSX-V will grant approval for the Private
Placement. 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 the latest Solaris
Management's Discussion and
Analysis available at www.sedar.com. 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 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 Resources Inc.