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Rio Silver Inc. ("Rio Silver" or the "Company") (TSX-V: RYO | OTC: RYOOF) is pleased to announce a non-brokered private placement financing for gross proceeds of up to $3,000,000 (the "Offering").
Under the Offering, subject to regulatory approval, the Company intends to issue up to 8,571,429 units (the "Units") at a price of $0.35 per Unit. Each Unit will consist of one common share of the Company and one-half (1/2) of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder to acquire one additional common share of the Company at a price of $0.50 per share for a period of 24 months from the date of issuance, subject to accelerated expiry in the event the common shares of the Company trade at a price greater than $0.75 for fifteen consecutive trading days.
The net proceeds from the Offering are expected to be used for advancement of the Company's Maria Norte Project in Peru, access development, metallurgical programs, and for general working capital purposes.
Closing and Regulatory Matters
Closing of the Offering is subject to receipt of all necessary approvals, including approval of the TSX Venture Exchange. All securities issued under the Offering will be subject to a statutory hold period in accordance with applicable securities laws, expiring four months and one day from the date of issuance.
The Company may pay finders' fees in connection with the Offering in accordance with the policies of the TSX Venture Exchange.
The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction.
About Rio Silver Inc.
Rio Silver Inc. (TSX-V: RYO | OTC: RYOOF) is a Canadian resource company advancing high-grade, silver-dominant assets in Peru, the world's second-largest silver producer. The Company is focused on near-term development opportunities within proven mineral belts and is supported by a seasoned technical and operational team with deep experience in Peruvian geology, underground mining, and district-scale exploration. With a clear development strategy and a growing portfolio of highly prospective silver assets, Rio Silver is establishing the foundation to become one of Peru's next emerging silver producers.
Learn more at www.riosilverinc.com
Stay Connected with Rio Silver
Investors and stakeholders are encouraged to follow Rio Silver for the latest company updates, project milestones, and event announcements across the Company's official social media channels:
By following Rio Silver's official channels, investors can stay informed as the Company advances its silver-dominant projects and executes on key development milestones.
ON BEHALF OF Rio Silver INC.
Chris Verrico
Director, President and Chief Executive Officer
To learn more or engage directly with the Company, please contact:
Christopher Verrico, President and CEO
Tel: (604) 762-4448
Email: chris.verrico@riosilverinc.com
Website: www.riosilverinc.com
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking statements" within the meaning of applicable Canadian securities laws. Forward-looking statements include, but are not limited to, statements regarding anticipated development activities, underground access timing, permitting progress, community engagement, processing strategies, and the Company's ability to advance toward potential production and cash flow. Forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially. Readers are cautioned not to place undue reliance on forward-looking statements. Rio Silver undertakes no obligation to update such statements except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
