Form SD - Specialized disclosure report

 

 

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
[phone]

(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.

 

 

 

 

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

Payments, by Category - USD ($)	Taxes	Fees	Infrastructure	Total Payments
Total	$ 449,000	$ 1,992,000	$ 1,019,000	$ 3,460,000

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

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

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

---