Solaris Resources Completes Share Consolidation 2:1
May 1st 2020 - NR
Solaris Resources reports that it has completed its previously announced consolidation of the common shares of the Company on the basis of 1 post-consolidation Common Share for 2 pre-consolidation Common Shares.
The Consolidation reduced the number of issued and outstanding Common Shares from 123,647,377 Common Shares to 61,823,701 Common Shares. As a result of the Consolidation, shares issuable pursuant to the Company's outstanding options, warrants, restricted share units and other convertible securities will be proportionally adjusted on the same basis. Effective today, the post-consolidated Common Shares of the Company have been assigned a new CUSIP number of 83419D201 and ISIN number of CA83419D2014.
The Company’s transfer agent, Computershare Investor Services, has sent a letter of transmittal to registered shareholders providing instructions to surrender the certificates evidencing their Common Shares for replacement certificates representing the number of post-consolidation Common Shares to which they are entitled. Until surrendered, each certificate representing Common Shares prior to the Consolidation will be deemed for all purposes to represent the number of Common Shares to which the holder thereof is entitled as a result of the Consolidation. Shareholders who hold their shares in brokerage accounts or “street name” are not required to take any action to effect the exchange of their shares.
On behalf of the Board of Solaris Resources Inc.
“Daniel Earle”
President & CEO, Director
For Further Information
Jacqueline Wagenaar, VP Investor Relations
Direct: 416-366-5678 Ext. 203
Email: jwagenaar@solarisresources.com
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. Solaris Resources operates as a reporting issuer, however, is not currently listed on a designated stock exchange. |
