Rio Silver completes Definitive Agreement for the sale of Ninobamba, announces planned restructuring

Rio Silver completes Definitive Agreement for the sale of Ninobamba, announces planned restructuring

 

Rio Silver Inc. ("Rio Silver" or the "Company") (TSX.V: RYO) (OTC: RYOOF), announces that it has completed a definitive agreement (the "Option Agreement") with Magma Silver Corp. (TSX.V: MGMA) ("Magma Silver") for the sale (the "Transaction") of the Niñobamba Au-Ag property ("Niñobamba" or the "Project").

 

Under the terms of the Option Agreement, Magma Silver has the right to earn a 100% interest in the Project upon full exercise of the option. The Option Agreement requires Magma Silver to make payments of an aggregate CAD$260,000, of which CAD$160,000 of that amount has been paid. Magma Silver will make further milestone payments of up to US$2,000,000, US$500,000 of which will constitute advanced royalty payments and will be paid over the next five years, deductible from the net smelter return royalty of 2% granted to Rio Silver. Magma Silver retains the right to buy back 1% of the NSR for US$1,000,000 at any time prior to commercial production on the Project. The Option Agreement also requires Magma Silver to issue to Rio Silver a total of 2,500,000 common shares of Magma Silver upon receipt of regulatory approval, and a further 2,500,000 common shares on the first anniversary of the approval date.

 

 Rio Silver also announces its intention to consolidate (the "Consolidation") its common shares on a one-new-for-five-old basis subject to regulatory approval.

 

Upon completion of the Consolidation, it is intended that the 99,832,844 common shares of Rio Silver currently issued and outstanding will be reduced to approximately 19,966,569 common shares. No fractional shares will be issued under the Consolidation. Each fractional share following the Consolidation that is less than one-half of a share will be cancelled, and each fractional share that is at least one-half of a share will be rounded up to the nearest whole share. As applicable, the exercise or conversion price and the number of shares issuable under any of the company's outstanding stock options and convertible instruments will be proportionately adjusted upon the completion of the Consolidation. A letter of transmittal will be sent to registered shareholders providing instructions to surrender the certificates evidencing their shares for replacement certificates representing the number of post-Consolidation shares to which they are entitled as a result of the Consolidation. Until surrendered, each certificate representing shares prior to the Consolidation will be deemed, for all purposes, to represent the number of shares to which the holder thereof is entitled as a result of the Consolidation.

 

The Consolidation remains subject to the acceptance of the TSX Venture Exchange (the "Exchange"), and the pre-consolidated shares will continue to be traded on the Exchange under the current trading symbol RYO. Upon acceptance by the Exchange, the Company's trading symbol will remain the same, but the CUSIP number and international securities identification number will change upon the completion of the Consolidation.

 

This Transaction and Consolidation will allows the Company to focus on the express development of its newly-acquired Maria Norte high grade silver exploration / exploitation project in the dynamic Huachacolpa Mining district, south central Peru where recent M&A activity is changing the investment landscape.

 

  About Rio Silver Inc.  

 

 Rio Silver is a Canadian exploration and development company with an large per cent of insider, friends and family ownership, focused on Peru. Rio Silver continues to review precious and base metal properties in Peru while maintaining its interest in its Ontario Gerow Lake, critical metals project. This Transaction enables the Company to complete certain planned acquisitions that bring significant potential for near-term, cash flowing, production allowing the Company to leverage other similar opportunities, going forward, in a non-dilutive shareholder friendly way.

 

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

 

Christopher 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


Keep reading...Show less

Leveraging 25 years of mining experience in Peru

Rio Silver to Complete 5:1 Consolidation

Rio Silver to Complete 5:1 Consolidation

 

Rio Silver Inc. (the "Company" or "Rio Silver") (TSX.V: RYO) (OTC: RYOOF) announces that, further to the announcement on May 1, 2025, it will consolidate (the "Consolidation") its common shares on the basis of five pre-Consolidation common shares for one post-Consolidation share.

 

The Company expects that the TSX Venture Exchange (the "Exchange") will issue a bulletin in short order, confirming that the Company's common shares will then commence trading on a post-Consolidation basis effective on or about the opening of trading on Thursday, July 3, 2025. There will be no change to the Company's name or trading symbol. The new CUSIP and ISIN numbers for the post-Consolidation shares are 76721A113 and CA76721A1131, respectively.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Rio Silver Announces Results of Annual General Meeting, Amends Purchase Agreement for Maria Norte

Rio Silver Announces Results of Annual General Meeting, Amends Purchase Agreement for Maria Norte

 

Rio Silver Inc. ("Rio Silver" or the "Company") (TSX.V: RYO) (OTC: RYOOF), announces shareholder approval for all matters at the AGM.

 

All resolutions presented at Rio Silver's annual general held on Thursday, June 19, 2025, including the election of directors, the ratification of the appointment of its auditor for the year ended December 31, 2024, the reappointment of its current auditor, the reapproval of the company's equity incentive plan and the approval for a share consolidation on a one-new-for-5-old basis. The name of the company has not been changed.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Rio Silver Receives Conditional Approval for Acquisition of Mamaniña Exploraciones S.A.C.

Rio Silver Receives Conditional Approval for Acquisition of Mamaniña Exploraciones S.A.C.

 

Rio Silver Inc. (the "Company") (TSX.V: RYO) (OTC: RYOOF) announces that, further to its announcement on March 26, 2025, it has received from the TSX Venture Exchange (the "Exchange") conditional acceptance (the "Conditional Approval") of the proposed transaction (the "Transaction") with Peruvian Metals Corp. for the acquisition of Mamaniña Exploraciones S.A.C.

 

The Company is working to satisfy the remaining conditions outlined in the Conditional Approval and will be making further announcements in respect thereof including without limitation the geological report prepared in accordance with National Instrument 43-101 and other items. The Transaction remains subject to the Exchange's final acceptance.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Rio Silver Pivots to High-Grade Silver Exploration / Exploitation - Announces Executive Changes

Rio Silver Pivots to High-Grade Silver Exploration / Exploitation - Announces Executive Changes

 

Rio Silver Inc. ("Rio Silver" or the "Company") (TSX.V: RYO) (OTC: RYOOF) announces that it has appointed Eric H. Hinton, P.Eng., FCIM, to the Advisory Board.

 

Eric H. Hinton, P.Eng., FCIM, has degrees from Haileybury School of Mines, Queen's University and Laurentian University and is a registered professional engineer in Ontario and Manitoba. Eric is a Fellow of the Canadian Institute of Mining, Metallurgy and Petroleum and is also designated as a Qualified Person in underground mining from the Mining and Metallurgical Society of America in addition to a qualified person for National Instrument 43-101. Eric's experience in small scale mining operations (from 50 to 500 tonnes per day) led him to acquire Basic Minerals SAC in Peru to launch the Mercedes Project which will become a 25000 tonne per annum polymetallic producer. His expertise will enable Rio Silver to engage in projects similar to Mercedes such as the recently acquired Maria Norte project, also in Peru, in order to potentially realize positive cashflow in the short term.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Rio Silver Acquires the Minas Maria Norte Project in a Prolific Mining District in Southern Peru  

Rio Silver Acquires the Minas Maria Norte Project in a Prolific Mining District in Southern Peru  

 

Rio Silver Inc. ("Rio Silver" or the "Company") (TSX.V: RYO) (OTC: RYOOF) announces that it has signed a definitive agreement for the acquisition of the Minas Maria Norte (" Maria Norte " or the " Property ") high grade polymetallic silver, exploitation exploitation property, from Peruvian Metals Corp. ("Peruvian") (TSX-V PER) being subject to regulatory approval.

 

The Property is located in Southern Peru in the historic Huachocolpa Mining District, Municipality of Huancavelica. The Property has been held by Peruvian for the past 18 years adjacent to significant silver production with announced world class expansion plans. Previous exploration campaigns by Peruvian shows that the property hosts many polymetallic veins with significant gold credits. Located in the heart of the prolific Huachocolpa Silver District, environmentally friendly hydro power, good infrastructure, labor and logistical support is available.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Pinnacle Changes OTC Ticker Symbol to PSGCF

Pinnacle Changes OTC Ticker Symbol to PSGCF

 

(TheNewswire)

 
  
  Pinnacle Silver and Gold Corp. 
 
 

VANCOUVER, BRITISH COLUMBIA, July 03, 2025 TheNewswire - (TSXV: PINN, OTC: PSGCF, Frankfurt: P9J) Pinnacle Silver and Gold Corp. (" Pinnacle " or the " Company ") is pleased to announce that its common shares, previously trading on the OTC Market under the ticker symbol "NRGOF", will begin trading on the OTC Market under the ticker symbol "PSGCF" effective today, Thursday, July 3, 2025.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Harvest Gold Announces Non-Brokered Private Placement

Harvest Gold Announces Non-Brokered Private Placement

 

(TheNewswire)

 
  
 Harvest Gold Corporation
 
 

  NOT FOR DISTRIBUTION OR DISSEMINATION TO THE UNITED STATES  

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Walker Lane Resources Ltd. Receives Positive Results from Airborne Geophysical Surveys and Geological Mapping Completed by Coeur on the Silverknife Property, BC and also are Clarifying Details Related to their recent Nevada Transactions

Walker Lane Resources Ltd. Receives Positive Results from Airborne Geophysical Surveys and Geological Mapping Completed by Coeur on the Silverknife Property, BC and also are Clarifying Details Related to their recent Nevada Transactions

 

Walker Lane Resources Ltd. (TSX-V:WLR, FRA: 6YL) (the "Company" or "Walker Lane") is pleased to announce that is has received results from Coeur Silvertip Holdings Ltd. ("Coeur") on field geophysical and geological studies completed in late 2024 on the Silverknife Property, British Columbia. Coeur contracted Expert Geophysics Limited ("Expert") and Precision Geophysics ("Precision") to complete the airborne geophysical surveys, and 39627 Yukon Inc. to complete geological mapping of the Silverknife Property and an initial geochemical survey of the northern portion of the property.

 

This work was completed by Coeur as a part of the option agreement for the Silverknife Property with Walker Lane. The four-year option agreement provides for $3.55 million in work expenditures and $500,000 in property payments by Coeur to earn a 75% interest in the Silverknife Property which is immediately adjacent to Coeur's Silvertip Mine claims.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Trigg Raises A$12.5M with Strong Support from Global Funds

Trigg Raises A$12.5M with Strong Support from Global Funds

Trigg Minerals (TMG:AU) has announced Trigg Raises A$12.5M with Strong Support from Global Funds

Download the PDF here.

Blue Lagoon Announces Major Steps Toward Production: Fully Funded, Government Inspections Passed, and Water Treatment Plant Completed

Blue Lagoon Announces Major Steps Toward Production: Fully Funded, Government Inspections Passed, and Water Treatment Plant Completed

 

(TheNewswire)

 
  
  Blue Lagoon Resources Inc. 
 
 

June 30, 2025 TheNewswire - Vancouver, British Columbia Blue Lagoon Resources Inc. (the " Company ") (CSE: BLLG; OTCQB: BLAGF; FSE: 7BL) is pleased to provide a corporate update highlighting significant progress at its Dome Mountain Gold Project as it prepares to enter production in a strong gold market.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Rio Silver

Rio Silver Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×