Solis Minerals Seeks Delisting from TSXV

Rhea-AI Summary

Solis Minerals (SLMFF) has applied to voluntarily delist from the TSX Venture Exchange (TSXV), making the Australian Securities Exchange (ASX) its primary listing. The delisting is expected to occur around June 23, 2025. TSXV shareholders, representing approximately 8% of the company's securities following February 2025 placement, can convert their shares into CHESS Depositary Interests (CDIs) on a 1:1 basis to trade on the ASX. The company also plans to re-domicile to Australia, subject to shareholder and regulatory approvals. CEO Mitch Thomas stated this move will enhance ASX share liquidity and reduce administrative costs associated with dual-listing, allowing more resources to focus on copper-gold exploration projects in southern Peru.

Positive

• Consolidation to ASX listing will reduce corporate costs and administrative burden
• Move will enhance trading liquidity on ASX
• Company can better focus resources on exploration activities
• Recently commenced drilling at Chancho al Palo project with Ilo Este to follow

Negative

• TSXV delisting may reduce North American investor exposure and access
• Shareholders must go through conversion process to trade shares on ASX
• Additional steps and potential fees for brokers/custodians in share conversion process

HIGHLIGHTS

• Solis Minerals has sought a delisting from the TSXV with the ASX to become the primary exchange. TSXV shareholders, on the Canadian share register, may convert their shares into CDIs held in Australia and trade the CDIs on the ASX.

• TSXV shareholders reflect approximately eight per cent of the Company's securities following Solis Minerals' placement in February 2025¹.

• A single, primary listing on the ASX, with a proposed re-domiciliation of the Company to Australia, will reduce corporate costs and governance considerations to better focus resources on exploration.

West Leederville, Western Australia--(Newsfile Corp. - June 9, 2025) - Solis Minerals Limited (ASX: SLM) (TSXV: SLMN) ("Solis Minerals" or the "Company") announces that it has applied to the TSX Venture Exchange ("TSXV") to voluntarily delist the common shares of the Company (the "Delisting").

Solis Minerals believes that the Company's shares and overall liquidity will benefit from a centralised focus on the Australian Securities Exchange ("ASX"). Additionally, cost and governance efficiencies will be realised through one primary listing.

Instructions regarding the process of converting common shares (the "Shares") into "CHESS Depositary Interests" ("CDIs"), enabling them to be traded on the ASX, may be found below. The Delisting is subject to final approval by the TSXV. The Company expects the Delisting to occur on or around June 23, 2025 (the "Delisting Date").

The Company also announces that, in connection with the Delisting, it expects to proceed with a re-domiciliation of the Company to Australia (the "Re-Domiciliation"). The Re-Domiciliation will be subject to the approval of the Company's shareholders and applicable regulatory approvals. Further details regarding the Re-Domiciliation will be made in a subsequent press release.

Chief Executive Officer, Mitch Thomas commented:

"We believe that streamlining our listing structure is in the best interests of all shareholders, as it will enhance ASX share liquidity and lower administrative costs associated with maintaining a dual-listing structure between Australia and Canada.

We welcome existing TSXV shareholders to convert their shares to CDIs. Instructions on how to do so are included on the following page.

This change will release more resources to focus on exploration of our highly attractive copper-gold projects in southern Peru. The commencement of drilling last week at Chancho al Palo - with Ilo Este to follow shortly - marks the start of a very exciting period of news flow for shareholders."

Instructions for Canadian shareholders to Convert their Shares into CDIs

If a shareholder wishes to trade on the ASX, they will need to request to convert, on a 1:1 basis, their unrestricted Shares held on the Canadian share register into CDIs held in Australia. This can be done in one of the following ways:

1. If the Shares are held by the shareholder directly on the Canadian share register in (a) book entry form in the Direct Registration System, or (b) in certificated form, then the shareholder will need to complete and submit a CDI Issuance (Canadian Register to Australian CDI Register) form (the "CDI Issuance Form") to Computershare's Global Transaction Team in Canada ("GT Canada") accompanied by share certificates (if applicable), to the following address:
   
   Post: Computershare Investor Services Inc.
   Attn Global Transaction Team
   100 University Ave, 8^th Floor
   Toronto, Ontario, M5J 2Y1 Canada
   
   Email: ca.globaltransactions@computershare.com
   
   The CDI Issuance Form can be downloaded from www.investorcentre.com/ca
   
   • select 'Printable Forms';
   • select 'Global Transaction Forms'; and
   • choose 'Register Removal Request - Canada to Australia CDIs'

2. For Shares held through the Canadian Depository for Securities ("CDS") with a broker or other intermediary (a "CDS Participant"), the CDS Participant will need to initiate a CDS Stock Withdrawal for the number of Shares to be converted into CDIs. At the same time, the CDS Participant will complete and submit a CA/AU xSettle instruction (or CDI Issuance Form) to GT Canada, with this matched to the withdrawal of the Shares. xSettle is Computershare's secure online cross-border instruction portal used by market participants.

Once a valid request is provided to GT Canada, the CDIs will generally be issued in Australia within 1-2 business days (time zones permitting). No CDI issuance fee will be charged to an individual holder for converting Shares into CDIs, however, a cross-border transaction fee may be charged to the holder by any intermediaries (i.e. brokers or custodians) which are involved.

For inquiries on the Share to CDI conversion process, shareholders can contact GT Canada:

Phone: +1 877 624 5999

Email: ca.globaltransactions@computershare.com

.

ENDS

This announcement has been authorised for release by the Board.

Contact Mitch Thomas Chief Executive Officer Solis Minerals Limited mthomas@solisminerals.com.au +61 458 890 355

Media & Broker Enquiries: Fiona Marshall & Jason Mack White Noise Communications fiona@whitenoisecomms.com jason@whitenoisecomms.com +61 400 643 799

 

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 Southern Coastal Belt of Peru and currently holds 81 concessions totalling 69,200 Ha.

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

Forward-Looking Statements

This news release contains certain forward-looking statements that relate to future events or performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected, including, but not limited to, the risk that the Delisting does not proceed in the manner contemplated or at all, the risk the Re-Domiciliation does not occur, market conditions, availability of financing, actual results of the Company's exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR+ at www.sedarplus.ca. These forward-looking statements are made as of the date hereof, and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.

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¹ Refer to ASX:SLM Announcement 26 February 2025: "$4.5M Placement Bolsters Funding ahead of Drilling in Peru"

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/255005

FAQ

When will Solis Minerals (SLMFF) delist from the TSXV?

Solis Minerals is expected to delist from the TSXV on or around June 23, 2025, subject to final TSXV approval.

How can TSXV shareholders convert their Solis Minerals shares to trade on ASX?

TSXV shareholders can convert their shares to CHESS Depositary Interests (CDIs) on a 1:1 basis by submitting a CDI Issuance Form to Computershare's Global Transaction Team in Canada.

What percentage of Solis Minerals shares are held on the TSXV?

Approximately 8% of the company's securities are held on the TSXV following the February 2025 placement.

Why is Solis Minerals delisting from TSXV?

The company is delisting to streamline operations, reduce corporate costs, enhance ASX share liquidity, and better focus resources on exploration projects in Peru.

Will there be fees for converting Solis Minerals shares to CDIs?

While no CDI issuance fee will be charged for converting shares to CDIs, intermediaries like brokers or custodians may charge cross-border transaction fees.