Augusta Ozama Investment LP Amends Solaris Resources Filing

TL;DR

Augusta Ozama Investment LP updated their Solaris Resources stake. Watch for more details.

AI Summary

Augusta Ozama Investment LP, through Richard Warke, has amended its Schedule 13D filing regarding Solaris Resources Inc. The filing, dated September 20, 2024, indicates a change in beneficial ownership as of September 18, 2024. The specific details of the change in ownership percentage or number of shares are not fully detailed in the provided text, but it represents an update to their previous filing.

Why It Matters

This amendment signals a potential shift in the ownership structure or strategy of Solaris Resources Inc., which could impact its stock price and future corporate actions.

Risk Assessment

Risk Level: medium — Amendments to Schedule 13D filings often indicate significant changes in a major shareholder's position, which can lead to increased volatility.

Key Numbers

• 20240920 — Filing Date (Date the amendment was filed with the SEC)
• 20240918 — Date of Change (The date as of which the change in beneficial ownership occurred)

Key Players & Entities

• Augusta Ozama Investment LP (company) — Filing entity
• Solaris Resources Inc. (company) — Subject company
• Richard Warke (person) — Authorized person for notices
• Jason K. Brenkert (person) — Legal counsel
• Dorsey & Whitney LLP (company) — Legal counsel

FAQ

Key Financial Figures

• $3.30 — 24 which are exercisable at a price of C$3.30 per share, expire on September 18, 2029
• $3.72 — es Purchase Price 07/02/2024 5,000 C$3.72 (US$2.72 using exchange rate of 1.3697)
• $2.72 — ase Price 07/02/2024 5,000 C$3.72 (US$2.72 using exchange rate of 1.3697) 07/02/2
• $3.71 — ge rate of 1.3697) 07/02/2024 5,000 C$3.71 (US$2.71 using exchange rate of 1.3697)
• $2.71 — f 1.3697) 07/02/2024 5,000 C$3.71 (US$2.71 using exchange rate of 1.3697) 07/02/2
• $3.70 — ge rate of 1.3697) 07/02/2024 5,000 C$3.70 (US$2.70 using exchange rate of 1.3697)
• $2.70 — f 1.3697) 07/02/2024 5,000 C$3.70 (US$2.70 using exchange rate of 1.3697) 07/09/2
• $3.939 — ge rate of 1.3697) 07/09/2024 2,400 C$3.939 (US$2.89 using exchange rate of 1.3638)
• $2.89 — 1.3697) 07/09/2024 2,400 C$3.939 (US$2.89 using exchange rate of 1.3638) 07/09/2
• $3.94 — ge rate of 1.3638) 07/09/2024 2,600 C$3.94 (US$2.89 using exchange rate of 1.3638)
• $3.93 — ge rate of 1.3638) 07/09/2024 5,000 C$3.93 (US$2.88 using exchange rate of 1.3638)
• $2.88 — f 1.3638) 07/09/2024 5,000 C$3.93 (US$2.88 using exchange rate of 1.3638) SIGNATU

Filing Documents

• sc13d-1a.htm (SC 13D/A) — 67KB
• 0000912282-24-000671.txt ( ) — 69KB

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration

of the Original Schedule 13D is hereby amended to add the following at the end thereof

Item 3 of the Original Schedule 13D is hereby amended to add the following at the end thereof: (i) Mr. Warke acquired through Augusta Investments an additional 25,000 Shares using working capital. (ii) Mr. Warke was granted 400,000 Options by the Issuer.

Purpose of Transaction

Item 4. Purpose of Transaction

of the Amended Schedule 13D as is hereby amended to add the following at the end thereof

Item 4 of the Amended Schedule 13D as is hereby amended to add the following at the end thereof: (i) Mr. Warke acquired through Augusta Investments an additional 25,000 Shares through open market purchases in the ordinary course of business. (ii) On September 18, 2024, the Issuer granted Richard Warke 400,000 Options. The Options are exercisable at a price of C$3.30 per share, expire on September 18, 2029, and vest as follows: 1/4 on September 18, 2025; 1/4 on September 18, 2026; 1/4 on September 18, 2027, and 1/4 on September 18, 2028.

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer

(a)-(b) of the Amended Schedule 13D is hereby amended as follows

Item 5(a)-(b) of the Amended Schedule 13D is hereby amended as follows: (a)-(b) a. (1) As of the date hereof, Augusta Ozama Investment Limited Partnership may be deemed to beneficially own 58,543,977 Common Shares, representing approximately 36.11% of the Issuer's Shares (on the basis of 162,116,904 outstanding common shares of the Issuer). (2) As of the date hereof, Richard Warke may be deemed to beneficially own 61,697,522 Common Shares, representing approximately 37.43% of the Issuer's Common Shares (on the basis of 162,116,904 outstanding common shares of the Issuer, plus 2,700,000 Common Shares in aggregate underlying convertible securities which are beneficially owned by the Reporting Person and included pursuant to Rule 13d-3(d)(1)(i) of the Act). The holdings are comprised of (i) 115,673 common shares and 2,700,000 options to purchase common shares held directly by Richard Warke, (ii) 26,335 common shares held by Augusta Capital, (iii) 84,500 common shares held by Augusta Investments, (iv) 58,543,977 common shares held by Augusta Ozama Investment Limited Partnership, and (v) 202,037 common shares held by Ozama. Beneficial ownership does not include 400,000 Options granted on September 18, 2024 which are exercisable at a price of C$3.30 per share, expire on September 18, 2029, and vest as follows: 1/4 on September 18, 2025; 1/4 on September 18, 2026; 1/4 on September 18, 2027, and 1/4 on September 18, 2028. Mr. Warke is the sole officer and director of Augusta Capital, Augusta Investments, Augusta Ozama, and Ozama. Mr. Warke is the sole officer and director of Augusta Capital, Augusta Investments, Augusta Ozama, and Ozama. (1) Number of shares as to which Augusta Ozama Investment Limited Partnership has: (i) Sole power to vote or to direct the vote: 58,543,977 (ii) Shared power to vote or to direct the vote: 0 (iii) Sole power to dispose or direct the disposition: 58,543,977 (iv) Shared power to dispose or direct the disposition: 0 (v) Aggregat

(c) of the Amended Schedule 13D is hereby amended as follows

Item 5(c) of the Amended Schedule 13D is hereby amended as follows: (c) Mr. Warke acquired the following common shares of the Issuer Date Number of Shares Purchase Price 07/02/2024 5,000 C$3.72 (US$2.72 using exchange rate of 1.3697) 07/02/2024 5,000 C$3.71 (US$2.71 using exchange rate of 1.3697) 07/02/2024 5,000 C$3.70 (US$2.70 using exchange rate of 1.3697) 07/09/2024 2,400 C$3.939 (US$2.89 using exchange rate of 1.3638) 07/09/2024 2,600 C$3.94 (US$2.89 using exchange rate of 1.3638) 07/09/2024 5,000 C$3.93 (US$2.88 using exchange rate of 1.3638) SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: September 20, 2024 AUGUSTA OZAMA INVESTMENT LIMITED PARTNERSHIP By: /s/ Richard Warke Name: Richard Warke Title: /s/ Richard Warke Name: Richard Warke

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View this SC 13D/A filing on SEC EDGAR