Solis Minerals Ltd (TSX-V:SLMN, ASX:SLM, OTCQB:SLMFF, FRA:08WA) has completed its $6 million raise, with funds to go towards upcoming drilling programs at its Brazil lithium assets and Cinto copper project.
The company will issue about 63.2 million shares at $0.095 each, representing a 9.5% discount to the last traded price of $0.105 on May 26, 2026. No options are attached to the offer.
Support for the raising came from both new and existing shareholders, including lithium producer PLS Group Ltd (ASX:PLS), which participated on a pro-rata basis to maintain its 5.1% holding and position as Solis’ largest shareholder.
PLS owns the nearby Colina Lithium Project in Minas Gerais, Brazil, and earlier this year entered into a collaboration agreement with Solis relating to the Brazil Lithium Project.
Funds to drive June drilling campaign
The money raised will primarily fund drilling at the company’s Brazil Lithium Project, where exploration is set to begin in June 2026 at the Mandacaru and Campo Grande targets, both wholly owned by Solis.
Additional funds will support drilling at the Cinto Copper Project, regional surface exploration programs and general working capital.
Solis CEO Mitch Thomas said the raising marked an important step for the company as it moves into an active exploration phase.
“This placement represents a milestone for Solis Minerals; high-quality institutional support, including global lithium leader PLS. This strong backing reflects the geological potential in our projects and favourable macro-positioning across lithium and copper. With drilling commencing June 2026, we are well positioned to unlock value through an active exploration program. Thank you to existing and new shareholders for their support.”
The placement will be completed in a single tranche and Solis directors have also committed to invest $100,000 in the raising, subject to shareholder approval.
CPS Capital Group acted as lead manager to the placement.