en.Wedoany.com Reported - Solis Minerals (ASX:SLM) has raised A$6 million before costs through a placement, issuing 63.15 million new shares at A$0.095 per share, with firm commitments received from institutional and professional investors.

The placement includes a commitment of A$100,000 from company Chairman and CEO Mitch Thomas, which is subject to shareholder approval. PLS Group (ASX:PLS) supported the placement through a pro-rata investment to maintain its 5.1% shareholding, remaining Solis's largest shareholder.

The placement price represents a 9.5% discount to the last traded price of A$0.105 on 26 May 2026, and no options are attached. Proceeds from the placement will be used for drilling at the Brazilian lithium projects (Mandacaru and Campo Grande), scheduled to commence in June 2026, drilling at the Cinto copper project, regional exploration, and general working capital.

Thomas stated that this placement marks a milestone for the company's development. He believes this strong support reflects the geological potential of the company's projects and the favourable macro positioning for lithium and copper. With drilling set to commence in June 2026, the company is poised to unlock value through an active exploration program.

CPS Capital Group acted as Lead Manager for the placement and will receive a 2% fee on total funds raised and a 4% placement fee, along with 5 million unlisted options with an exercise price of A$0.1425 per share and a three-year term. Solis Minerals is an emerging exploration company focused on unlocking the potential of its South American energy metals portfolio.

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