Solaris Copper is a multi-asset exploration company focused on copper projects in the Americas. The Company holds a 100% interest in the Warintza advanced-stage copper-molybdenum property in Ecuador and a 100% interest in the Ricardo early-stage copper-molybdenum property in Chile, both of which were discovered by J. David Lowell, arguably the world’s leading copper geologist. Solaris Copper also holds a 60% interest in the La Verde advanced-stage copper-silver-gold property in Mexico with the remaining 40% held by a subsidiary of Teck Resources, and has earn-in agreements for two early-stage base metals projects in Peru.
Solaris Copper was formed in August 2018 as a spin-out of Equinox Gold Corp.’s copper assets. Equinox Gold’s Board of Directors determined that these promising copper projects would get better valuation and visibility in a standalone copper-focused company, and that separating Equinox Gold into separate gold-focused and copper-focused companies would provide each business unit with sharper focus on its long-term strategy and better flexibility to achieve its growth objectives.
Equinox Gold’s shareholders approved the arrangement at their annual general meeting on July 26. As per the terms of the arrangement agreement, Equinox Gold retained 40% of Solaris Copper shares and the remaining 60% was distributed amongst Equinox Gold shareholders such that Equinox Gold shareholders now hold one common share of Equinox Gold and one-tenth of a Solaris Copper share for every Equinox share held on the August 2 record date. Equinox warrants, options and restricted share units were also adjusted pursuant to the arrangement.
Solaris Copper shares are not currently listed on a designed stock exchange but the Company is a “reporting issuer” under Canadian securities legislation and, as such, will comply with its continuous disclosure obligations including press releases and financial reporting. Solaris Copper is considering a potential stock exchange listing, but at the moment there is no firm date for listing the company. Additional information about how this may affect your investment is included in this downloadable Q&A, or you can contact Solaris Copper directly by phone at +1-604-558-0560 or by email at email@example.com.