Rio Silver arranges $1.3-million financing

Executive Summary

• Rio Silver Inc. arranged a non‑brokered private placement of up to 13 million units at $0.10 per unit, targeting gross proceeds of up to $1.3 million.
• Each unit includes one common share and one transferable warrant; warrants are exercisable at $0.15 per share for three years, with a possible accelerated expiry if the share price stays ≥ $0.25 for 15 consecutive trading days.
• Proceeds (excluding warrant proceeds) will be allocated to exploration and development of Peru projects and general working capital.

Key Details

• Units offered: Up to 13,000,000 units at $0.10 per unit.
• Gross proceeds target: Up to $1.3 million.
• Unit composition: 1 common share + 1 transferable warrant.
• Warrant terms: Each whole warrant exercisable into one common share at $0.15 per share; initial term of three years from closing.
• Accelerated expiry provision: If, after the final closing date, Rio Silver’s common shares trade ≥ $0.25 on the TSX‑V (or other exchange) for 15 consecutive trading days, the company may issue a news release to accelerate warrant expiry to 30 days from that notice.
• Closing structure: Placement may be closed in one or more tranches, subject to conditional TSX‑V approval.
• Finder’s fees / broker compensation: Up to 8 % of proceeds; may be paid in cash, common shares, warrants, or a combination thereof, and includes issuance of up to 8 % brokers’ warrants.
• Use of proceeds (excluding warrant proceeds):
• Exploration and development of Rio Silver’s projects in Peru.
• General working capital purposes.

Notable Quotes

(No direct quotes were provided in the release.)