Strategic Placement to Paradice Investment Management
| Stock | Solstice Minerals Ltd (SLS.ASX) |
|---|---|
| Release Time | 16 Jun 2025, 8:55 a.m. |
| Price Sensitive | Yes |
Solstice Minerals Secures $2.13M Strategic Placement
- Paradice Investment Management to become Solstice's largest shareholder with 9.90% stake
- Placement to be used for aggressive drilling campaigns on Bluetooth, Edjudina Range and Stateman Well Prospects
- Funds also to support resource extension drilling at the Nanadie Copper-Gold Project
Solstice Minerals Limited (ASX: SLS) has received a firm commitment to raise approximately $2.13M through a strategic placement to Paradice Investment Management Pty Ltd. The placement will see Paradice become Solstice's largest shareholder with a 9.90% stake. The placement will comprise the issue of approximately 8.87 million new shares at $0.240 per share, representing a 9.4% discount to the last close price and a 1.8% premium to the 15-day VWAP. The funds will be used for general working capital to support the company's aggressive drilling campaigns on the Bluetooth, Edjudina Range and Stateman Well Prospects within the Yarri Project, as well as resource extension drilling at the advanced Nanadie Copper-Gold Project. Solstice's Managing Director and CEO, Nick Castleden, commented that the placement is a 'ringing endorsement of our progress as a Company' and will provide a strong foundation for future growth.
Solstice Minerals has not provided any high-importance, price-sensitive forward-looking financial metrics or guidance in the announcement.
Solstice Minerals anticipates steady activities and newsflow through the remainder of 2025, including further drilling on the Bluetooth, Edjudina Range and Stateman Well Prospects within the Yarri Project, as well as resource extension drilling at the Nanadie Copper-Gold Project.