Rio Silver Receives Conditional Approval for $2.2M Private Placement

Executive Summary

• Rio Silver received conditional TSX‑V approval to close an upsized private placement for $2.2 million in gross proceeds.
• The offering consists of 22,000,000 units at $0.10 per unit, each unit containing one common share and one non‑transferable warrant exercisable at $0.15 for three years.
• Proceeds will be used to advance exploration projects in south‑central Peru, fund general working capital, and settle existing debt.

Key Details

• Units Issued: 22,000,000 units @ $0.10 per unit → gross proceeds $2,200,000.
• Unit Composition: 1 common share + 1 non‑transferable warrant (exercisable at $0.15/share for 3 years).
• Warrant Acceleration Clause: If post‑closing share price ≥ $0.25 for 15 consecutive trading days, the company may accelerate expiry; accelerated warrants would then expire 30 days after notice.
• Finder’s Fees / Commissions: $74,520 payable to finders; issuance of 745,200 non‑transferable “brokers’ warrants” (each for one common share at $0.15 exercise price, 3‑year term).
• Hold Period: Securities subject to a four‑month hold from exchange acceptance under Canadian securities law.
• Use of Proceeds (excluding warrant proceeds):
• Acquire and advance exploration/exploitation projects in south‑central Peru.
• General working capital.
• Settlement of debt.
• Regulatory Status: Conditional approval received; final closing pending TSX‑V’s final approval.
• Related Upcoming Item: Anticipated exchange approval for acquisition of the Maria Norte Au‑Ag‑Pb‑Zn project (announcement dated Sept 17, 2025).

Notable Quotes

(No direct quotes provided in the release.)