Solaris Resources (TSX:SLS) Received Warrant Exercises of C$18.7 Million, With Significant Share By Richard Warke at Premium to Market

Source: Solaris Resources

Solaris Resources (TSX:SLS) (OTCQB:SLSSF) has announced that it received exercises of common share purchase warrants for a total of C$18.7 million since the last quarterly results dated August 9, 2022. Mr. Richard Warke represented the majority of the warrants exercised, and exercised 2.3 million at a price of C$6.75, a 37% premium to the close of trading on Friday, October 28, 2022. On top of those warrants, Mr. Warke also exercised 0.6 million warrants at C$1.20 for proceeds of C$0.7 million. 

More warrants remain outstanding and are set to expire by the end of 2022. There are 3.1 warrants at a price of C$1.20 and 0.2 million warrants at a price of C$6.75 outstanding which would generate proceed of C$4.9 million. 50% of those warrants are held by company insiders. By May 2023, 25 million warrants will expire at C$1.20, which if exercised in full, would generate C$30 million, with 98% of those warrants held by company insiders.


The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

By Matthew Evanoff

I cover the mining industry and the best mining stocks around the world. I write about industry news, individual companies, projects, management, and profiles on industry leaders.

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