Solaris Resources Inc.(US:SLSR) GlobeNewswire News Room·2024-11-20 12:00Core Viewpoint - Solaris Resources Inc. is completing its emigration to Switzerland by year-end 2024 to maximize shareholder returns and align with Ecuadorian regulators as it advances the Warintza permitting process [1][13]. Management Changes - Matthew Rowlinson has been appointed as President and CEO effective January 1, 2025, and will be based in Zug, Switzerland [2]. - Rowlinson brings extensive experience from Glencore, where he was Head of Copper Business Development [7][8]. - Additional board appointments include Rodrigo Borja and Hans Wick, effective January 1, 2025, while current Canadian directors will resign [3][10]. Project Leadership - Rowlinson will lead the executive team supported by Javier Toro, the Chief Operating Officer, who has built a technical team in Lima, Peru [4]. - The Warintza Project team includes experienced professionals from senior copper mining companies [4]. Spin-Out Strategy - The company plans to complete a spin-out transaction to leverage non-core assets, forming a new growth-oriented copper company [6]. - This new entity will focus on consolidating operating and advanced development assets with significant upside potential [6]. Emigration Details - Effective January 1, 2025, Solaris will close its Canadian offices and will not have any operations or assets in Canada [13]. - The company does not expect adverse tax consequences from this emigration [14]. Executive Chairman's Remarks - Richard Warke, Executive Chairman, expressed gratitude to the Solaris team for advancing the Warintza project and emphasized the commitment to maximizing shareholder returns [15][16]. - The reorganization is seen as a strategic move to align interests with regulators [17]. Company Overview - Solaris Resources Inc. is advancing a portfolio of copper and gold assets in the Americas, including the Warintza Project in Ecuador and a 60% interest in the La Verde joint-venture project in Mexico [18].