Newmont acquires 9.95% stake in Solitario via $2.5M private placement

SOLITARIO RESOURCES CORP.

Newmont purchased 4,166,667 shares at $0.60/share for $2.5M, becoming largest holder at 9.95%.
Proceeds to fund exploration at Golden Crest, Lik, Florida Canyon projects and for corporate purposes.
Investor Rights Agreement grants Newmont preemptive, registration, anti-dilution rights and ROFR on Golden Crest.
Solitario's cash and marketable securities now ~$6.1M after the financing.
Private placement closed July 31, 2023, exempt from registration under Section 4(a)(2) and Rule 506(b).

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SOLITARIO RESOURCES CORP. entered into Investor Rights Agreement with Newmont Overseas Exploration Ltd (effective 2023-07-31).

Action: entry
Counterparty: Newmont Overseas Exploration Ltd
Effective: 2023-07-31

Exact text from the filing

Concurrently with the execution of the SPA, the Company and Newmont entered into an Investor Rights Agreement (the “Rights Agreement”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SOLITARIO RESOURCES CORP. entered into Stock Purchase Agreement with Newmont Overseas Exploration Ltd valued at $2,500,000 (effective 2023-07-31).

Action: entry
Agreement: equity purchase
Counterparty: Newmont Overseas Exploration Ltd
Value: $2,500,000
Effective: 2023-07-31

Exact text from the filing

On July 31, 2023, Solitario Resources Corp. (the “Company”) entered into a Stock Purchase Agreement (the “SPA”) with Newmont Overseas Exploration Ltd (“Newmont”). Pursuant to the SPA, Newmont agreed to purchase 4,166,667 shares of Company common stock for $2,500,000.

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SOLITARIO RESOURCES CORP. filing history →

Source: SEC EDGAR

accession 0001654954-23-010024

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