Solaris Resources To Spin Out Non-Core Assets To New Entity

Solaris Resources (TSX: SLS) is evidently looking to monetize some of its assets while providing a degree of return for its shareholders. The mid-stage explorer this morning announced its intention to spin out what it has deemed to be non-core assets.

The spin out will see the creation of a new firm, titled Solaris Exploration Inc, with the new firm to see assets transferred to it following an internal re-organization. The firm will hold assets in Ecuador, Peru, Chile, and Mexico, which is claimed will provide shareholders with long-term value.

It is currently expected that Solaris Exploration will see 100% of its shares spun out to current shareholders of Solaris Resources, following the approval by a majority of investors. Once spun-out, the new firm is to be listed on the public markets.

Solaris Resources is expected to predominantly retain its Warintza Project in southeastern Ecuador, which is a copper and gold project that currently has a high grade resource.

Solaris Resources last traded at $12.80 on the TSX.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Baselode Energy To Acquire Forum Energy: The Merger Of Equals Deal

TriStar Gold: The Revised Castelo de Sonhos Prefeasibility Study

Gold is Up 30%, But the Real Bull Market is Only Starting Now! | Adrian Day

Recommended

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Goliath Resources Expands 2025 Drill Program To 60,000 Metres

Related News

Solaris Resources: The Royal Gold Financing Package

It might be only a handful of months since a nearly entirely new C-Suite took...

Sunday, June 1, 2025, 12:32:00 PM

Solaris Resources: Ecuadorian Indigenous Nation Files Complaint With BCSC For Failure To Disclose

An Ecuadorian indigenous nation, the Shuar Arutam People (PSHA), has lodged a formal complaint against...

Saturday, March 2, 2024, 09:07:00 AM

Is the Canadian Government Blocking Zijin’s $130 Million Move on Solaris?

In a significant development for Solaris Resources Inc. (TSX: SLS), the Canadian government is reportedly...

Monday, February 5, 2024, 07:44:48 AM

Where Are Copper Prices Heading In 2023? — With Daniel Earle

Joining us on the Daily Dive today is Daniel Earle, president & CEO of Solaris...

Wednesday, November 30, 2022, 01:30:00 PM

Solaris Resources Sees Equinox Gold Sell Large Stake In Firm

Solaris Resources (TSX: SLS) has seen one of its largest shareholders liquidate its position rather...

Tuesday, December 6, 2022, 09:22:40 AM