<SEC-DOCUMENT>0000917225-14-000011.txt : 20140221
<SEC-HEADER>0000917225-14-000011.hdr.sgml : 20140221
<ACCEPTANCE-DATETIME>20140221165335
ACCESSION NUMBER:		0000917225-14-000011
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20140217
ITEM INFORMATION:		Unregistered Sales of Equity Securities
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20140221
DATE AS OF CHANGE:		20140221

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SOLITARIO EXPLORATION & ROYALTY CORP.
		CENTRAL INDEX KEY:			0000917225
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		IRS NUMBER:				841285791
		STATE OF INCORPORATION:			CO
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32978
		FILM NUMBER:		14634319

	BUSINESS ADDRESS:	
		STREET 1:		4251 KIPLING STREET
		STREET 2:		SUITE 390
		CITY:			WHEAT RIDGE
		STATE:			CO
		ZIP:			80033
		BUSINESS PHONE:		3035341030

	MAIL ADDRESS:	
		STREET 1:		4251 KIPLING STREET
		STREET 2:		SUITE 390
		CITY:			WHEAT RIDGE
		STATE:			CO
		ZIP:			80033

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SOLITARIO RESOURCES CORP
		DATE OF NAME CHANGE:	20000711
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<TYPE>8-K
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<P STYLE="font: 12pt Times New Roman, Times, Serif; text-align: center; margin-right: 0; margin-left: 0"><B>UNITED STATES</B><BR>
<B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; text-align: center; margin-right: 0; margin-left: 0"><B>Form&nbsp;8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-right: 0; margin-left: 0">CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d)<BR>
OF THE SECURITIES EXCHANGE ACT OF 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-right: 0; margin-left: 0">Date of Report (Date of
earliest event reported): February 17, 2014</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; text-align: center; margin-right: 0; margin-left: 0"><B>SOLITARIO EXPLORATION
&amp; ROYALTY CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact name of registrant as specified in its
charter)</P>

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    <td style="width: 38%; font: 10pt Times New Roman, Times, Serif; text-align: center"><font style="font-size: 10pt">Colorado</font><br>
<font style="font-size: 10pt">(State or other jurisdiction of</font><br>
<font style="font-size: 10pt">incorporation or organization) </font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><font style="font-size: 10pt">001-32978</font><br>
<font style="font-size: 10pt">(Commission</font><br>
<font style="font-size: 10pt">File Number) </font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><font style="font-size: 10pt">84-1285791</font><br>
<font style="font-size: 10pt">(I.R.S. Employer</font><br>
<font style="font-size: 10pt">Identification No.)</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-right: 0; margin-left: 0">4251 Kipling Street, Suite
390<BR>
Wheat Ridge, CO 80033<BR>
(Address of principal executive offices)</P>

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    <td style="width: 65%; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 10pt">Registrant&rsquo;s telephone number, including area code:</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-size: 10pt">(303) 534-1030</font></td></tr>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-right: 0; margin-left: 0">Not Applicable<BR>
(Former name or former address, if changed since last report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0">Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

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    <td style="width: 2%; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Wingdings">o</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-size: 10pt">Written communications pursuant to Rule&nbsp;425 under the Securities Act (17&nbsp;CFR 230.425)</font></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Wingdings">o</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-size: 10pt">Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17&nbsp;CFR 240.14a-12)</font></td></tr>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

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    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Wingdings">o</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-size: 10pt">Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17&nbsp;CFR&nbsp;240.14d-2(b))</font></td></tr>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

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    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Wingdings">o</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-size: 10pt">Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17&nbsp;CFR&nbsp;240.13e-4(c))</font></td></tr>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"></P>

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<tr style="vertical-align: top">
    <td style="width: 22%; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 10pt"><b>ITEM 3.02</b></font></td>
    <td style="width: 78%; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 10pt"><b>Unregistered Sales of Securities</b></font></td></tr>
<tr style="vertical-align: top">
    <td colspan="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Solitario Exploration &amp; Royalty Corp. (&ldquo;Solitario&rdquo;)
        has received irrevocable commitments to purchase shares of Solitario common stock in a private placement conducted by Solitario
        (the &ldquo;Offering&rdquo;). Solitario received the first such commitment on February 17, 2014. In total, Solitario received commitments
        to purchase 1,600,000 shares of common stock (the &ldquo;Shares&rdquo;) at US $1.05 per share for aggregate consideration of $1,680,000
        in the Offering. Solitario retained Haywood Securities, Inc. of Vancouver, British Columbia, Canada (&ldquo;Haywood&rdquo;) to
        serve as a placement agent in connection with the portion of the Offering conducted in Canada and has agreed to pay Haywood a fee
        of $50,000 for the sale effected to the single Canadian investor that participated in the Offering.</P>
        <P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For all offers and sales effected within the
        United States or to U.S. persons Solitario relied on the exemptions from registration set forth in Section 4(a)(2) under the Securities
        Act of 1933, as amended (the &ldquo;1933 Act&rdquo;) and Rule 506(b) promulgated thereunder. In connection with such offers and
        sales Solitario: (i) did not engage in any public advertising or general solicitation in connection with the Offering; (ii) reasonably
        believed that each investor was sophisticated and an &ldquo;accredited investor&rdquo; as defined in Rule 501(a) promulgated under
        the 1933 Act and understood the risks of acquiring the Shares; and (iii) believed that each investor is acquiring the Shares for
        investment purposes. Solitario received an irrevocable commitment from a single Canadian investor in the Offering and such offer
        and sale was effected outside the United States pursuant to Regulation S promulgated under the 1933 Act. No officers, directors
        or other affiliates of Solitario participated in the Offering.</P>
        <P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The closing of the Offering is subject to the
        filing of additional listing applications with the NYSE MKT and the Toronto Stock Exchange, (collectively the &ldquo;Exchanges&rdquo;)
        and to all necessary approvals of the Exchanges.</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P></td></tr>
</table>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <td style="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 10pt"><b>ITEM 9.01 </b></font></td>
    <td style="width: 88%; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 10pt"><b>FINANCIAL STATEMENTS AND EXHIBITS</b></font></td></tr>
<tr style="vertical-align: top">
    <td style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 10pt"><u>Exhibits</u></font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 10pt"><u>Exhibit Description</u></font></td></tr>
<tr style="vertical-align: top">
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 10pt">99.1</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 10pt">Press Release dated February 21, 2014 announcing commitments for $1,680,000 private placement</font></td></tr>
</table>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-right: 0; margin-left: 0"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant caused this report to be signed on its behalf by the undersigned
thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">February 21, 2014</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

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<tr style="vertical-align: bottom">
    <td>&nbsp;</td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 89%">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td colspan="3"><font style="font-size: 10pt">Solitario Exploration &amp; Royalty Corp.</font></td></tr>
<tr>
    <td style="vertical-align: top; text-align: right">&nbsp;</td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: top; text-align: right">&nbsp;</td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: top"><font style="font-size: 10pt">By: </font></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt"><u>/s/&nbsp;James R. Maronick</u></font></td></tr>
<tr>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">James R. Maronick, Chief Financial Officer</font></td></tr>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0"><B>&nbsp;</B></P>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exh991.htm
<DESCRIPTION>FEBRUARY 21, 2014
<TEXT>
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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0 9pt 0 0; text-align: right; text-indent: 0.5in">Exhibit 99.1</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 3.75in; text-align: center; text-indent: 0.75in">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 3.75in; text-align: center; text-indent: 0.75in"><B>February 21,
2014 </B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 3.75in; text-align: center; text-indent: 0.75in"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>SOLITARIO ANNOUNCES COMMITMENTS FOR $1,680,000
PRIVATE PLACEMENT</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Denver, Colorado: </B>Solitario Exploration
&amp; Royalty Corp. (&ldquo;Solitario;&rdquo; NYSE MKT: <B>XPL;</B> TSX: <B>SLR</B>) announces that it has received irrevocable
commitments to purchase shares of Solitario common stock in a private placement conducted by Solitario (the &ldquo;Offering&rdquo;).
Solitario received the first such commitment on February 17, 2014. In total, Solitario received commitments to purchase 1,600,000
shares of common stock (the &ldquo;Shares&rdquo;) at US $1.05 per share for aggregate consideration of $1,680,000 in the Offering.
Solitario retained a placement agent in connection with the portion of the Offering conducted in Canada and has agreed to pay such
placement agent a fee of $50,000 for the sale effected to the single Canadian investor that participated in the Offering.</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The Board of Directors of Solitario on February
17, 2014 unanimously approved the terms of the Offering including the pricing based upon an analysis of the prior five-day average
closing price of Solitario&rsquo;s common stock on the NYSE MKT of $1.08 per share.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The Shares have not been registered under the
Securities Act of 1933, as amended, (the &ldquo;1933 Act&rdquo;) and all offers and sales effected within the United States or
to U.S. persons Solitario relied on the exemptions from registration set forth in Section 4(a)(2) under 1933 Act and Rule 506(b)
promulgated thereunder. Solitario received an irrevocable commitment from a single Canadian investor in the Offering and such offer
and sale was effected outside the United States pursuant to Regulation S promulgated under the 1933 Act. The Shares may not be
offered or sold in the United States absent registration or an applicable exemption from registration requirements. In addition
the Shares will contain a legend prohibiting sales in Canada for a period of four months from the date of the closing of the Offering.
No officers, directors or other affiliates of Solitario participated in the Offering.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0">The closing of the Offering is subject to the filing of additional
listing applications with the NYSE MKT and the Toronto Stock Exchange, (collectively the &ldquo;Exchanges&rdquo;) and to all necessary
approvals of the Exchanges.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>



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