UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM SD

 

Specialized Disclosure Report

 

Solaris Resources Inc.

(Exact name of registrant as specified in its charter)

 

British Columbia, Canada   001-42015   Not Applicable
(State or other jurisdiction of
incorporation or organization) 		  (Commission File Number)   (IRS Employer
Identification No.)

 

Suite 555, 999 Canada Place
Vancouver, British Columbia, Canada		   V6C 3E1
(Address of principal executive offices)   (Zip Code)

 

Tom Ladner
(604) 687-1717

(Name and telephone number, including area code, of person to contact in connection with this report)

 

Check the appropriate box to indicate the rule pursuant to which this form is being filed, and provide the period to which the information in this form applies:

 

☐Rule 13p-1 under the Securities Exchange Act (17 CFR 240.13p-1) for the reporting period from January 1 to December 31, 2023.

 

☒Rule 13q-1 under the Securities Exchange Act (17 CFR 240.13q-1) for the fiscal year ended December 31, 2023.

 

 

 

 

 

 

SECTION 1 – Conflict Minerals Disclosure

 

Item 1.01 - Conflict Minerals Disclosure and Report

 

Not applicable.

 

Item 1.02 - Exhibit

 

Not applicable.

 

SECTION 2 – RESOURCE EXTRACTION ISSUER DISCLOSURE

 

Item 2.01 Resource Extraction Issuer Disclosure and Report

 

Solaris Resources Inc. (“Solaris”), a British Columbia corporation, is subject to Canada’s Extractive Sector Transparency Measures Act (“ESTMA”). Solaris is relying on the alternative reporting provision of Item 2.01 and providing its ESTMA report for the year ended December 31, 2023 to satisfy the requirements of Item 2.01. Solaris’ ESTMA report is available on Solaris’ website at www.solarisresources.com/sustainability/governance/ or on the Government of Canada’s website at https://natural-resources.canada.ca/our-natural-resources/minerals-mining/services-for-the-mining-industry/extractive-sector-transparency-measures-act/links-estma-reports/18198. The payment disclosure required by Form SD is included as Exhibit 2.01 to this Form SD.

 

SECTION 3 – EXHIBITS

 

Item 3.01. Exhibits

 

The following exhibit is filed as part of this report.

 

Exhibit Number   Description
     
2.01   Extractive Sector Transparency Measures Act – Annual Report for Solaris Resources Inc. for the year ended December 31, 2023

 

1

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned.

 

Solaris Resources Inc.
       
By: /s/ Sunny Lowe   September 12, 2024
  Sunny Lowe   (Date)
  Chief Financial Officer    

 

 

2

Exhibit 2.01

 

Extractive Sector Transparency Measures Act - Annual Report
Reporting Entity Name Solaris Resources Inc.
Reporting Year From 1/1/2023 To: 12/31/2023 Date submitted 5/28/2024
Reporting Entity ESTMA Identification Number E375408    
   
Other Subsidiaries Included
(optional field)		    
   
Not Consolidated    
   
Not Substituted        
   
Attestation by Reporting Entity              
In accordance with the requirements of the ESTMA, and in particular section 9 thereof, I attest I have reviewed the information contained in the ESTMA report for the entity(ies) listed above. Based on my knowledge, and having exercised reasonable diligence, the information in the ESTMA report is true, accurate and complete in all material respects for the purposes of the Act, for the reporting year listed above.  
 
 
 
 
               
               

Full Name of Director or Officer of Reporting Entity

 

 Sunny Lowe Date 5/28/2024  
Position Title Chief Financial Officer  

 

 

 

 

Extractive Sector Transparency Measures Act - Annual Report
Reporting Year From: 1/1/2023 To:  12/31/2023              
Reporting Entity Name Solaris Resources Inc. Currency of the Report USD      
Reporting Entity ESTMA Identification Number E375408          
Subsidiary Reporting Entities (if necessary)            
Payments by Payee
Country Payee Name Departments, Agency, etc… within Payee that Received Payments Taxes Royalties Fees Production Entitlements Bonuses Dividends Infrastructure Improvement Payments Total Amount paid to Payee1 Notes
Chile Government of Chile   General Treasury of the Republic of Chile                                          -                                            -                                  135,000                                              -                                            -                                            -                                            -                                  135,000  
Ecuador  Decentralized Autonomous Parish Government of San Antonio                                            -                                            -                                            -                                                 -                                            -                                            -                               1,019,000                            1,019,000 Infrastructure improvements are payments for public road construction that do not relate primarily to the operational purposes of the Company. Payments are reported in the period in which the payment was made.
Ecuador Government of Ecuador  Internal Revenue Service                                165,000                                         -                                  322,000                                              -                                            -                                            -                                            -                                  487,000 Tax payment is for temporary contribution of 0.8% on the Company’s net 2020 equity in Ecuador for fiscal year 2023.
Ecuador Government of Ecuador  Ministry Of Environment, Water And Ecological Transition                                          -                                            -                               1,535,000                                              -                                            -                                            -                                            -                               1,535,000  
Ecuador Municipal Government Of Quito                                   91,000                                         -                                            -                                                 -                                            -                                            -                                            -                                    91,000  
Ecuador  Municipal Government Of Canton Morona                                    88,000                                         -                                            -                                                 -                                            -                                            -                                            -                                    88,000  
Ecuador Government of Ecuador Superintendency Of Companies                               105,000                                         -                                            -                                                 -                                            -                                            -                                            -                                  105,000  
Additional Notes:
1 All payments are reported in U.S. dollars (USD) which is the reporting currency of the consolidated financial statements of Solaris Resources Inc. (the “Company” or “Solaris”). Payments in Chile were made in Chilean Peso (CLP) and translated using the average annual rate of USD to CLP: 1 USD = 839.07 CLP. Payments in Ecuador were made in USD. All figures have been rounded to the nearest $1,000.

The Company makes contributions to the Shuar Centres of Warints and Yawi (hereinafter “Communities”) in Ecuador under an Impacts and Benefits Agreement. Although the Communities are not defined as Payees under the Extractive Sector Transparency Measures Act, Solaris recognizes that the Warintza Project is located on ancestral lands belonging to the Communities.

 

 

 

 

Extractive Sector Transparency Measures Act - Annual Report
Reporting Year From: 1/1/2023 To:  12/31/2023            
Reporting Entity Name Solaris Resources Inc. Currency of the Report USD    
Reporting Entity ESTMA Identification Number E375408        
Subsidiary Reporting Entities (if necessary)          
Payments by Project
Country Project Name Taxes Royalties Fees Production Entitlements Bonuses Dividends Infrastructure Improvement Payments Total Amount paid by Project1 Notes
Chile Ricardo                                         -                                            -                                  100,000                                         -                                            -                                            -                                            -                                  100,000  
Chile Tamarugo                                         -                                            -                                    35,000                                         -                                            -                                            -                                            -                                    35,000  
Ecuador Warintza                               449,000                                         -                               1,857,000                                         -                                            -                                            -                               1,019,000                            3,325,000
Infrastructure improvements are payments for public road construction that do not relate primarily to the operational purposes of the Company. Payments are reported in the period in which the payment was made.

Tax payment is for temporary contribution of 0.8% on the Company’s net 2020 equity in Ecuador for fiscal year 2023.
Additional Notes: 1 All payments are reported in U.S. dollars (USD) which is the reporting currency of the consolidated financial statements of Solaris Resources Inc. (the “Company” or “Solaris”). Payments in Chile were made in Chilean Peso (CLP) and translated using the average annual rate of USD to CLP: 1 USD = 839.07 CLP. Payments in Ecuador were made in USD. All figures have been rounded to the nearest $1,000.

The Company makes contributions to the Shuar Centres of Warints and Yawi (hereinafter “Communities”) in Ecuador under an Impacts and Benefits Agreement. Although the Communities are not defined as Payees under the Extractive Sector Transparency Measures Act, Solaris recognizes that the Warintza Project is located on ancestral lands belonging to the Communities.

 

 

 

 

v3.24.2.u1
Document Information
 12 Months Ended
Dec. 31, 2023
Document Information:  
Document Type 2.01 SD
Amendment false
CIK 0002019103
Registrant Name Solaris Resources Inc.
Period End Date Dec. 31, 2023
Reporting Currency USD
v3.24.2.u1
Payments, by Category - USD ($)
Taxes
Fees
Infrastructure
Total Payments
Total $ 449,000 $ 1,992,000 $ 1,019,000 $ 3,460,000
v3.24.2.u1
Payments, by Project - 12 months ended Dec. 31, 2023 - USD ($)
Taxes
Fees
Infrastructure
Total Payments
Total $ 449,000 $ 1,992,000 $ 1,019,000 $ 3,460,000
Ricardo        
Total   100,000   100,000
Tamarugo        
Total   35,000   35,000
Warintza        
Total $ 449,000 $ 1,857,000 $ 1,019,000 $ 3,325,000
v3.24.2.u1
Payments, by Government - 12 months ended Dec. 31, 2023 - USD ($)
Taxes
Fees
Infrastructure
Total Payments
Total $ 449,000 $ 1,992,000 $ 1,019,000 $ 3,460,000
Government of Chile        
Total   135,000   135,000
Decentralized Autonomous Parish Government of San Antonio        
Total     $ 1,019,000 1,019,000
Government of Ecuador        
Total 270,000 $ 1,857,000   2,127,000
Municipal Government Of Quito        
Total 91,000     91,000
Municipal Government Of Canton Morona        
Total $ 88,000     $ 88,000
v3.24.2.u1
Payments, Details - 12 months ended Dec. 31, 2023 - USD ($)
Amount
Type
Country
Govt.
Project
Resource
Segment
Ext. Method
#: 1                
$ 100,000 Fees CHILE Government of Chile Ricardo Copper Exploration Open Pit
#: 2                
35,000 Fees CHILE Government of Chile Tamarugo Copper Exploration Open Pit
#: 3                
1,019,000 Infrastructure ECUADOR Decentralized Autonomous Parish Government of San Antonio Warintza Copper Exploration Open Pit
#: 4                
165,000 Taxes ECUADOR Government of Ecuador Warintza Copper Exploration Open Pit
#: 5                
322,000 Fees ECUADOR Government of Ecuador Warintza Copper Exploration Open Pit
#: 6                
1,535,000 Fees ECUADOR Government of Ecuador Warintza Copper Exploration Open Pit
#: 7                
91,000 Taxes ECUADOR Municipal Government Of Quito Warintza Copper Exploration Open Pit
#: 8                
88,000 Taxes ECUADOR Municipal Government Of Canton Morona Warintza Copper Exploration Open Pit
#: 9                
$ 105,000 Taxes ECUADOR Government of Ecuador Warintza Copper Exploration Open Pit
Solaris Resources (AMEX:SLSR)
Graphique Historique de l'Action
De Nov 2024 à Déc 2024 Plus de graphiques de la Bourse Solaris Resources
Solaris Resources (AMEX:SLSR)
Graphique Historique de l'Action
De Déc 2023 à Déc 2024 Plus de graphiques de la Bourse Solaris Resources