https://www.engineeringnews.co.za
Exploration|Gold|Health|Safety|Drilling
Exploration|Gold|Health|Safety|Drilling
exploration|gold|health|safety|drilling

Ecuador explorer Solaris Gold raises C$20m

1st June 2020

By: Creamer Media Reporter

     

Font size: - +

Exploration company Solaris Gold, which owns a property in Ecuador, has completed a non-brokered private placement financing raising gross proceeds of C$20-million.

Solaris issued 25-million units at C$0.80 a unit, with each unit consisting of one common share and one common share purchase warrant. Each warrant entitles the holder to acquire one common share at a price of C$1.20 for a period of three years.

The private placement was fully subscribed by senior management, including executive chairperson Richard Warke, president and CEO Daniel Earle and strategic partner Equinox Gold.

The proceeds from the placement will be used to advance exploration efforts at the company's properties, including a comprehensive geophysical survey and expanded drilling programme at Warintza, and for general and working capital purposes.

"We greatly appreciate the steadfast support of our largest shareholders amidst the market turmoil brought on by the Covid-19 pandemic. With approximately C$25-million of cash on hand, the company is well financed to responsibly resume exploration at Warintza, and to accelerate our drilling programme, with strict protocols in place to protect the health and safety of our workers and partner communities,” says Earle.

Solaris Gold was spun out of TSX-listed Equinox Gold last year.

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

Comments

Showroom

SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 
Hanna Instruments Image
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.095 0.155s - 160pq - 2rq
Subscribe Now