Solitario Announces Sale of Shares of Ely Gold
21 Novembro 2013 - 8:04PM
Business Wire
Solitario Exploration & Royalty Corp. (“Solitario;” NYSE
MKT: XPL; TSX: SLR) announces that it has sold 6,303,563 common
shares (the "Shares") of Ely Gold & Minerals (“Ely Gold;”
TSX.V: ELY) by way of private agreement at a price of CDN$0.08 per
share. Immediately after the sale, Solitario owned an aggregate of
2,160,920 common shares of Ely Gold, representing approximately
3.2% of Ely Gold's outstanding common shares.
The Shares were sold by Solitario to raise a portion of the
funds in order that Solitario may subscribe for 13,571,354 common
shares of Ely Gold at a price of CDN$0.10 per share on a private
placement basis, for gross proceeds to Ely Gold of CDN$1,357,135
(the "Private Placement"). It is expected that the Private
Placement will be completed once Ely Gold has received all required
regulatory approvals, including the approval of the TSX Venture
Exchange, which is expected to occur on or prior to November 30,
2013. Ely Gold is required to use the proceeds of the Private
Placement to pay Augusta Resource Corporation as part of
Solitario's earn-in to the Mt. Hamilton LLC joint venture. Upon
completion of the Private Placement, it is expected that Solitario
will own an aggregate of 15,732,274 common shares of Ely Gold,
which will represent approximately 19.6% of Ely Gold's outstanding
common shares.
Solitario will file an Early Warning Report as required by
Canadian regulatory authorities under National Instrument 62-103
with regard to the sale of the Shares. Solitario will also file a
subsequent Early Warning Report upon completion of the Private
Placement.
About Solitario
Solitario is a gold, silver, platinum-palladium, and base metal
exploration and royalty company actively exploring in Brazil,
Mexico, and Peru. Solitario has significant business relationships
with Votorantim Metais on its high-grade Bongará zinc project in
Peru, Hochschild Mining on its Pachuca Norte silver-gold project in
Mexico and Anglo Platinum on its Pedra Branca platinum-palladium
project in Brazil. Solitario is traded on the NYSE MKT ("XPL") and
on the Toronto Stock Exchange ("SLR"). Additional information about
Solitario is available online at www.solitarioxr.com.
FOR MORE INFORMATION OR A COPY OF THE EARLY WARNING REPORT
CONTACT:
Solitario Exploration & Royalty Corp.Debbie Mino-Austin,
800-229-6827Director – Investor RelationsorChristopher E. Herald,
303-534-1030President & CEO
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