Solaris Resources (TSX:SLS)(NYSEAmerican:SLSR) has announced final steps to complete its emigration from Canada by the end of the year. The move aims to enhance shareholder returns and align the company with Ecuadorian regulatory frameworks as the Warintza Project progresses through permitting.

Leadership Changes

Matthew Rowlinson will assume the roles of President and Chief Executive Officer on January 1, 2025. He will operate out of Solaris’ new office in Zug, Switzerland, where additional staff appointments are expected. Rowlinson, previously Head of Copper Business Development at Glencore, brings extensive experience in copper mining, mergers, and acquisitions. His leadership is seen as pivotal for Solaris’ future endeavors.

The board of directors will also undergo significant changes. Effective January 1, 2025, Rowlinson, along with Rodrigo Borja and Hans Wick, will join the board. Concurrently, Canadian directors Daniel Earle, Poonam Puri, Kevin Thomson, and Ron Walsh will step down.

Mr. Richard Warke, Executive Chairman of Solaris, commented in a press release: “I want to offer my sincerest gratitude to the Solaris team for their unrelenting drive to advance the late David Lowell’s greenfield discovery at Warintza to become a major copper project more than ten-times its original size in only five years. As early works infrastructure development is now underway, this team has brought Warintza within view of completing permitting and commencing full-scale construction for what could be one of the industry’s last major copper districts to be developed at low elevation and adjacent to infrastructure. I would also like to thank the outgoing directors for their guidance during this journey. I am firmly committed to maximizing returns for shareholders and protecting the interests of stakeholders and this reorganization creates the strategic flexibility and alignment of interests with regulators to do so. I want to welcome Matt and the incoming directors to Solaris as we position ourselves for a pivotal year ahead.”

Solaris has bolstered its technical and operational capacity in South America. Chief Operating Officer Javier Toro leads a Lima-based team that includes experts from senior copper mining companies. In Ecuador, long-standing executives Jorge Fierro and Ricardo Obando will oversee exploration and community affairs, respectively. Obando’s recent promotion reflects his expertise in social and government relations.

Spin-Out Plans

The company is preparing a spin-out of its non-core assets, including La Verde, Capricho, and Paco Orco. This new entity, set to launch in 2025, will focus on acquiring and developing copper projects with significant growth potential. Rowlinson’s experience and network are expected to support the rapid scaling of this new venture.

Solaris will close its Canadian offices by January 1, 2025, completing its emigration process. The company will cease Canadian operations and relocate its assets and personnel outside Canada. Solaris expects no adverse tax or stock exchange implications from this transition.

Rowlinson’s tenure at Glencore saw him managing a significant copper portfolio and leading key acquisitions, including the MARA project. Borja, a senior lawyer, has extensive experience in Ecuador’s mining and oil sectors. Wick, with a background in banking and mining investments, adds financial expertise to the board. Obando, promoted to Vice President of Community and Government Affairs, has a history of facilitating social and government relations in Ecuador.