Latin American battery mineral-focused explorer Solis Minerals (ASX:SLM) has entered into a contract with Australia-based marketing and investment group S3 Consortium, trading as StocksDigital.
Solis says under the contract, StocksDigital will provide it with a range of services, including access to its digital advertising technology platform. Solis Minerals has a $95.88 million market capitalisation.
The company has agreed to issue 2.5 million shares to StocksDigital, subject to shareholder approval. These shares are subject to escrow until 30 May 2025.
Solis Minerals is a battery mineral explorer that currently owns a 100% interest in the Borborema Lithium Project in northeast Brazil, which covers a total landholding of 24,800 hectares.
The company is currently working to expand its lithium exploration tenure in Brazil, having recently executed an option to acquire another 100% interest in the Jaguar Lithium Project in Bahia state.
Solis also owns a 100% interest in 32,000 hectares of combined licences and applications of highly prospective iron oxide copper gold (IOCG) and porphyry copper projects in southwestern Peru.
Solis had $1.8 million cash at hand at the end of 31 March 2023, as stated in its latest quarterly report released on 28 April 2023.
Write to Adam Drought at Mining.com.au
Images: Solis Minerals Ltd