Solis Announces Succesful Closing of Tranche 2 Placement

Rhea-AI Summary

Solis Minerals (ASX: SLM, TSXV: SLMN, OTCQB: SLMFF) has successfully completed Tranche 2 of its Placement, raising A$2,633,296.35 through the issuance of 30,979,957 CHESS Depositary Interests (CDIs) at A$0.085 per share. The placement includes 26,470,627 unlisted options exercisable at A$0.16 with a two-year term.

Assisting brokers received 6% fees totaling A$145,697.78 and will receive 12,632,353 unlisted options exercisable at A$0.14875 with a three-year term. An additional 294,118 CDIs and 147,059 unlisted options are being issued for A$25,000. The company's total issued equity capital post-Tranche 2 is now 141,080,178 shares.

The company has also issued 6,000,000 performance rights to its CEO and 6,800,000 to its Directors, as approved at the Special Shareholder Meeting on April 16, 2025.

Positive

• Successfully raised A$2.63M through Tranche 2 Placement
• Additional A$25,000 raised through supplementary CDI issuance

Negative

• 6% broker fees amount to A$145,697.78 in placement costs
• Potential dilution from 12.8M new performance rights issued to management
• Further dilution risk from 39.25M total new options issued

West Leederville, Western Australia--(Newsfile Corp. - April 23, 2025) - The Directors of Solis Minerals Ltd. (ASX: SLM) (TSXV: SLMN) (OTCQB: SLMFF) (FSE: 08W) ("Solis Minerals" or "the Company"), are pleased to advise that the Company has closed Tranche 2 of the Placement, issuing a total of 30,979,957 CHESS Depositary Interests (CDIs) over common shares at A$0.085 per New Share along with 26,470,627 unlisted options exercisable at A$0.16 with a two- year term, to raise gross proceeds of A$2,633,296.35.

Assisting brokers received, in aggregate, fees of 6% of the funds raised under the Placement, being a total of $145,697.78 in connection with the closing of Tranche 2. The brokers will also receive 12,632,353 unlisted options exercisable at A$0.14875 with a three-year term.

Tranche 2 of the Placement was approved by shareholders at a Special Shareholder Meeting of the Company held 16 April 2025.

A further 294,118 CDIs at A$0.085 per New Share along with 147,059 unlisted options exercisable at A$0.16 with a two-year term, are being issued on the same terms for aggregate cash proceeds of A$25,000. The Company's total issued equity capital post Tranche 2 allotment is 141,080,178 shares.

Additionally, the Company has issued 6,000,000 performance rights to its CEO and 6,800,000 performance rights to its Directors with the terms and conditions disclosed under Schedules 4 and 5, respectively of the Notice of Special Meeting released to the ASX on 19 March 2025.

CDIs trading on the ASX issued on account of the shares cannot be converted into common shares of the Company for the purposes of trading such shares in Canada until four months and one day have elapsed from the issuance date.

This announcement is authorised for release by the Board.

Contact Mitch Thomas Chief Executive Officer Solis Minerals Limited +61 458 890 355

Media & Broker Enquiries: Fiona Marshall & Jason Mack White Noise Communications fiona@whitenoisecomms.com jason@whitenoisecomms.com +61 400 512 109

 

Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.

About Solis Minerals Limited

Solis Minerals is an emerging exploration company, focused on unlocking the potential of its South American copper portfolio. The Company is building a significant copper portfolio around its core tenements of Ilo Este and Ilo Norte and elsewhere in the Coastal Belt of Peru. Solis holds 81 concessions totalling 69,200 Ha. 47 concessions are granted (39,000 Ha) and 34 concessions are being processed (30,200 Ha).

The Company is led by a highly-credentialled and proven team with excellent experience across the mining lifecycle in South America. Solis is actively considering a range of copper opportunities. South America is a key player in the global export market for copper and Solis, under its leadership team, is strategically positioned to capitalise on growth the opportunities within this mineral-rich region.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/249626

FAQ

How much did Solis Minerals (SLMFF) raise in its Tranche 2 Placement?

Solis Minerals raised gross proceeds of A$2,633,296.35 through the issuance of 30,979,957 CDIs at A$0.085 per share.

What are the terms of the options issued in Solis Minerals' Tranche 2 Placement?

The placement included 26,470,627 unlisted options exercisable at A$0.16 with a two-year term, and brokers received 12,632,353 unlisted options exercisable at A$0.14875 with a three-year term.

How many performance rights were issued to Solis Minerals' management?

Solis Minerals issued 6,000,000 performance rights to its CEO and 6,800,000 performance rights to its Directors.

What is Solis Minerals' total issued equity capital after the Tranche 2 placement?

The company's total issued equity capital post Tranche 2 allotment is 141,080,178 shares.