Rio Silver Announces Closing of the Private Placement

Executive Summary

• Rio Silver Inc. closed a non‑brokered private placement of 22 million units at $0.10 per unit, generating gross proceeds of $2.2 million.
• Each unit consists of one common share and one warrant exercisable at $0.15 for three years (subject to early expiry provisions).
• Net proceeds are earmarked for exploration and development in Peru, the Gerow Lake project in Northern Ontario, and general working capital; they will not be used for the Maria Norte project until TSX Venture Exchange approval is obtained.

Key Details

• Units Issued: 22,000,000 units at $0.10 per unit → $2,200,000 gross proceeds.
• Unit Composition: 1 common share + 1 warrant; warrants allow purchase of an additional share at $0.15 for three years from issuance.
• Early Expiry Clause: Warrants expire 30 days after notice if the company’s closing price ≥ $0.25 for 15 consecutive trading days post‑closing.
• Finder Compensation: $70,920 paid in cash and 709,200 finder’s warrants issued (same terms as primary warrants).
• Statutory Hold Period: All securities subject to a four‑month hold period expiring March 12 2026.
• Use of Proceeds:
• Exploration & development of Peru projects.
• Exploration & development of the Gerow Lake project, Northern Ontario.
• General working capital.
• Excludes use for Maria Norte project until TSX Venture Exchange approval (announced multiple times in 2025).

Notable Quotes

No direct quotes were provided in the release.