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(www.investorideas.com
Newswire) Investorideas.com , a go to investing platform for mining
stocks issues news for silver stock Rio Silver Inc. (TSX-V: RYO | OTC: RYOOF),
Rio Silver Inc. (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
ON BEHALF OF THE BOARD OF DIRECTORS 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.
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