Salazar Resources Announces Non-Brokered Private Placement of Up to $3.5 Million
Salazar raises $3.5M for Ecuador exploration as El Domo construction nears its 2027 commissioning target.
Salazar Resources Limited (SRL) announced a non-brokered private placement of up to 10 million units at $0.35 per unit, targeting gross proceeds of up to $3,500,000. Each unit consists of one common share and one-half of a common share purchase warrant. The warrants are exercisable at $0.60 per share for a period of two years from closing. All securities carry a four-month hold period pending TSX Venture Exchange approval. Insiders may participate in the financing, and finder's fees may be paid on a portion of the transaction.
Salazar Resources Limited reported a working capital deficit of approximately $916,000 as of June 30, 2026, with cash on hand totaling around $519,000. To fund overhead and exploration budgets for the next 12 to 18 months, the company executed a $3.5 million placement. The placement price of $0.35 was set below the recent trading range of $0.36 to $0.44, representing a modest discount intended to attract capital quickly. This approach is standard for junior explorers but introduces near-term dilution.
Salazar Resources Limited (SRL) is a Canadian junior exploration and development company focused on Ecuador. The company holds a 25% fully carried interest in the El Domo copper-gold-silver-zinc-lead project, which is operated by Silvercorp Metals, holding the remaining 75% interest. Additionally, Salazar owns 100% of several exploration-stage projects: Monja, Santiago, Tarqui-Quimi, El Tigre, and Pijili.