<SEC-DOCUMENT>0000917225-14-000013.txt : 20140303
<SEC-HEADER>0000917225-14-000013.hdr.sgml : 20140303
<ACCEPTANCE-DATETIME>20140303170547
ACCESSION NUMBER:		0000917225-14-000013
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20140228
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20140303
DATE AS OF CHANGE:		20140303

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:		14661271

	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
</SEC-HEADER>
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<TYPE>8-K
<SEQUENCE>1
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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 28, 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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<tr style="vertical-align: top">
    <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">&nbsp;</P>

<table cellspacing="1" cellpadding="0" style="width: 100%">
<tr style="vertical-align: top">
    <td style="width: 22%; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 10pt"><b>ITEM 8.01</b></font></td>
    <td style="width: 78%; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 10pt"><b>Other Events</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">On February 28, 2014 Solitario Exploration
        &amp; Royalty Corp. (&ldquo;Solitario&rdquo;) issued a press release that Solitario has closed its previously announced sale of
        shares of Solitario common stock in a private placement conducted by Solitario (the &ldquo;Offering&rdquo;). In total, Solitario
        sold 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 paid a placement agent a placement 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">The Shares have not been registered under the
        Securities Act of 1933, as amended (the &ldquo;1933 Act&rdquo;) and all offers and sales of the Shares effected within the United
        States or to U.S. persons Solitario relied on the exemptions from registration set forth in Section 4(a)(2) of the 1933 Act 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. The offer and sale of 1,000,000 of the Shares
        to a single Canadian investor in the Offering 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 was subject to
        the approval of the NYSE MKT and the Toronto Stock Exchange. This current report on Form 8-K is being filed pursuant to and in
        accordance with Rule 135c of the 1933 Act.</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 28, 2014 announcing closing of the previously announced &nbsp;$1,680,000 private placement</font></td></tr>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0"></P>

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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">March 3, 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 28, 2014
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right">Exhibit 99.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 3.75in; text-align: center; text-indent: 0.75in"><B>February 28,
2014 </B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 3.75in; text-align: center; text-indent: 0.75in"><B>&nbsp;</B></P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>SOLITARIO ANNOUNCES CLOSING OF THE PREVIOUSLY
ANNOUNCED $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: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt 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 closed the previously
announced private placement of 1,600,000 shares of common stock (the &ldquo;Shares&rdquo;) at US $1.05 per share for aggregate
consideration of $1,680,000 (the &ldquo;Offering&rdquo;). Solitario retained a placement agent in connection with the portion of
the Offering conducted in Canada and paid the 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: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The Board of Directors of Solitario unanimously
approved the terms of the Offering on February 17, 2014, including the pricing of the Shares 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: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt 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 of the Shares effected within the United
States or to U.S. persons were made pursuant to the exemptions from registration set forth in Section 4(a)(2) under 1933 Act and
Rule 506(b) promulgated thereunder. The offer and sale of 1,000,000 of the Shares to a single Canadian investor in the Offering
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: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The closing of the Offering was subject to the
approval of the NYSE MKT and the Toronto Stock Exchange. The proceeds of the Offering will provide the Company additional working
capital for general corporate purposes.</P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">FOR MORE INFORMATION CONTACT:</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 99pt">&nbsp;</P>

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        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Debbie Mino-Austin</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Director &ndash; Investor Relations</P></TD>
    <TD STYLE="width: 35%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">(800) 229-6827</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Christopher E. Herald</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">President &amp; CEO</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">(303) 534-1030</P></TD></TR>
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