Solitario Resources Secures $4.5 Million Through Private Placement

Solitario Resources Corp. has finalized a private placement raising US$4.5 million. The transaction involved selling 7,142,855 shares at US$0.63 each to two investors, expanding its financial footing. Notably, Newmont Overseas Exploration Ltd., a subsidiary of Newmont Corporation, purchased 1,587,300 shares, increasing its stake in Solitario to 9.40%. The rest was acquired by Wexford Capital Partners, which now holds a 6.2% stake.

This funding, not involving any intermediaries and free from underwriter fees, bolsters Solitario’s cash reserves to over US$9 million. The capital will support upcoming drilling operations at the Golden Crest and Ponderosa projects. Solitario commits to transparency, with details to be reported to the SEC and Canadian agencies.