Solis Minerals has secured A$4.5 million in funding through a placement to institutional investors. This funding will support drilling at key copper sites in Peru and pre-drilling work at the Cinto Project. The placement will be executed in two tranches, with shareholder approval required for part of the funds. Drilling permits have already been obtained for the Chancho al Palo site.

Solis Minerals (SLMFF) has raised A$4.5 million through a placement with institutional and sophisticated investors, including A$205,000 from Directors pending shareholder approval. The placement involves CHESS Depository Interests at A$0.085 per share with a 1:2 unlisted option exercisable at 16 cents for two years. The funds will finance drilling at the Ilo Este and Chancho al Palo copper targets, pre-drilling work at the Cinto Project, regional target definition, and general working capital. The placement will occur in two tranches: Tranche 1 will raise A$1.87 million through 21,961,220 shares, while Tranche 2 will raise A$2.63 million through 30,979,957 shares, subject to shareholder approval in March 2025. Drilling permits for the Chancho al Palo project are already awarded, with additional approvals expected shortly.

Solis Minerals’ recent placement of A$4.5 million, backed by strong institutional support, positions the company for significant exploration and drilling advances in Peru’s copper sector. The carefully structured funding will support critical projects and expand their strategic portfolio, harnessing opportunities in the Copper Belt. With ongoing approvals and drilling planned for 2025, the company is poised for promising developments in the coming year.

Original Source: www.stocktitan.net