Rio Silver Announces Proposed Shares for Debt Transaction

Rio Silver Announces Proposed Shares for Debt Transaction

Rio Silver Inc. (the "Company" or "Rio Silver") (TSX.V: RYO,OTC:RYOOD) (OTC: RYOOF) is pleased to announce that, subject to the approval of the TSX Venture Exchange, the Company intends to settle (the "Transaction") an aggregate of $293,250 of indebtedness (the "Debt") owed to certain arm's length and non-arm's length creditors through the issuance of an aggregate of 1,396,428 common shares, at a deemed price of $0.21 per common share, and 420,238 common share purchase warrants (the "Warrants") of the Company. 976,190 of the common shares (and no Warrants) will be issued to non-arm's length creditors.

Each Warrant is exercisable into a common share at the price of $0.28 per common share, for a period of three years from the date of issue.

All common shares and Warrants issued to settle the Debt will be subject to a hold period of four months and one day from the date of issuance. The Transaction is subject to TSX Venture Exchange approval. Completion of the Transaction will allow the Company to improve its current working capital deficiency position.

ON BEHALF OF THE BOARD OF DIRECTORS OF Rio Silver INC.

Chris Verrico

Director, President and Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

For further information,

Christopher Verrico, President, CEO

Tel: (604) 762-4448

Email: chris.verrico@riosilverinc.com

Website: www.riosilverinc.com

This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required by applicable laws.


Primary Logo

News Provided by GlobeNewswire via QuoteMedia

RYO:CA
Rio Silver

Rio Silver Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Rio Silver

Rio Silver

Leveraging 25+ years of mining experience in Peru

Leveraging 25+ years of mining experience in Peru Keep Reading...
LaFleur Minerals Files PEA Technical Report Supporting Restart of Gold Production at Beacon Gold Mill, Québec

LaFleur Minerals Files PEA Technical Report Supporting Restart of Gold Production at Beacon Gold Mill, Québec

LaFleur Minerals Inc. (CSE: LFLR,OTC:LFLRF) (OTCQB: LFLRF) (FSE: 3WK0) ("LaFleur Minerals" or the "Company") is pleased to announce the filing of an independent technical report (the "Report"), prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects... Keep Reading...
Video - CEO Clips: Lahontan Gold Advances Nevada Gold-Silver Assets Toward Potential Production

Video - CEO Clips: Lahontan Gold Advances Nevada Gold-Silver Assets Toward Potential Production

Lahontan Gold Corp. (TSXV: LG,OTC:LGCXF) (OTCQB: LGCXF) is advancing a past-producing, open-pit heap leach gold-silver story in Nevada's Walker Lane with nearly 2 million ounces of gold equivalent already outlined. With drilling at West Santa Fe, ongoing permitting, and metallurgical work... Keep Reading...
Centurion Executes Option Agreement for Limestone Gold Project, near Zijin's Rosebel Gold Mine in Suriname

Centurion Executes Option Agreement for Limestone Gold Project, near Zijin's Rosebel Gold Mine in Suriname

Centurion Minerals Ltd. (TSXV: CTN) ("Centurion" or the "Company") is pleased to announce it has executed an Option to Purchase Agreement (the "Agreement") for the Limestone gold project ("Limestone" or the "Project") in Suriname. The Project is located proximal to the Rosebel and Saramacca... Keep Reading...
Stonegate Capital Partners Updates Coverage on Heliostar Metals Ltd  3Q26

Stonegate Capital Partners Updates Coverage on Heliostar Metals Ltd 3Q26

Heliostar Metals Ltd (TSXV: HSTR,OTC:HSTXF): Stonegate Capital Partners updates their coverage on Heliostar Metals Ltd (TSXV: HSTR,OTC:HSTXF). Heliostar continued advancing its flagship Ana Paula project in Guerrero as its primary development asset and next major source of growth. The November... Keep Reading...
Independent CTRI Testing Indicates RZOLV Exhibits Dramatically Lower Acute Trout Toxicity Than Cyanide Reference

Independent CTRI Testing Indicates RZOLV Exhibits Dramatically Lower Acute Trout Toxicity Than Cyanide Reference

Rzolv Technologies Inc. (TSXV: RZL,OTC:RZOLF) (OTCQB: RZOLF) ("RZOLV" or the "Company") today announced the results of an ecotoxicity report prepared by Centre Technologique des Résidus Industriels ("CTRI"), a recognized leader in environmental technologies and ecotoxicology, which evaluated the... Keep Reading...
New High-Grade Gold Target Identified at Viani - Amended

New High-Grade Gold Target Identified at Viani - Amended

Alice Queen (AQX:AU) has announced NEW HIGH-GRADE GOLD TARGET IDENTIFIED AT VIANI - AMENDEDDownload the PDF here. Keep Reading...
Rio Silver

Rio Silver Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Interactive Chart

Latest Press Releases

Related News