Solis Minerals Limited: Tranche 2 Placement Update
Perth, Western Australia – Solis Minerals Limited (ASX: SLM) (TSXV: SLMN) (OTCQB: SLMFF) (FSE: 08W) (“Solis Minerals” or “the Company”) is pleased to provide an update on its Tranche 2 placement, which was announced on February 23, 2025. The placement was oversubscribed, attracting significant interest from both existing and new investors.
Placement Details
The placement consisted of 23,650,000 fully paid ordinary shares at an issue price of AUD 0.03 per share, raising approximately AUD 709,500 in total proceeds. The funds will be used to advance the Company’s mineral exploration projects in Western Australia and for general working capital purposes.
TSXV Requirements
Under TSX Venture Exchange (“TSXV”) requirements, placements must close within 45 days of announcement. Solis Minerals is working diligently to meet this deadline and expects to complete the placement by the end of March 2025.
Impact on Solis Minerals
The successful completion of the Tranche 2 placement is a strong endorsement of Solis Minerals’ exploration projects and business strategy. The additional funds will enable the Company to accelerate its exploration activities and move closer to discovering new mineral deposits. Furthermore, the placement has increased Solis Minerals’ shareholder base, which may lead to increased liquidity and trading volumes.
Impact on the World
The mining industry plays a crucial role in the global economy, providing essential minerals and metals that are used in various industries, including technology, construction, and energy. Solis Minerals’ exploration efforts in Western Australia contribute to the supply of these resources, which are in high demand due to the ongoing digital transformation and infrastructure development. The discovery of new mineral deposits can lead to economic growth and job creation in the regions where they are located.
Conclusion
Solis Minerals’ successful Tranche 2 placement is a positive step forward for the Company and demonstrates the strong investor interest in its mineral exploration projects. The additional funds will help Solis Minerals advance its exploration activities and bring new mineral deposits to market. Furthermore, the mining industry’s contribution to the global economy and the potential discovery of new mineral deposits can lead to economic growth and job creation.
- Solis Minerals Limited successfully raises AUD 709,500 through Tranche 2 placement
- Funds to be used for mineral exploration projects and working capital
- TSXV requirement for placement to close within 45 days of announcement
- Placement oversubscribed, attracting significant interest from investors
- Additional funds to accelerate exploration activities and discover new mineral deposits
- Mining industry plays a crucial role in the global economy, providing essential resources
- Discovery of new mineral deposits can lead to economic growth and job creation
