Rio2 Announces Upsize of Previously Announced Bought Deal Financing to C$166 Million

Executive Summary

• Rio2 Limited has upsized its previously announced "bought deal" equity financing from C$140 million to approximately C$166 million (approx. US$120 million) due to strong investor demand.
• The company is issuing 74,865,000 Subscription Receipts at an issue price of C$2.22 per receipt to co-lead underwriters Raymond James Ltd., Stifel Nicolaus Canada Inc., and BMO Nesbitt Burns Inc.
• The transaction includes a 15% over-allotment option for the underwriters and is expected to close on or about December 15, 2025, pending TSX approval.

Key Details

• Transaction Size: Upsized from C$140 million to approximately C$166,200,300 in gross proceeds.
• Instrument: 74,865,000 Subscription Receipts.
• Issue Price: C$2.22 per Subscription Receipt.
• Underwriters: Raymond James Ltd., Stifel Nicolaus Canada Inc., and BMO Nesbitt Burns Inc. (co-lead underwriters and joint bookrunners).
• Over-Allotment Option: The underwriters have an option to purchase up to 15% additional Subscription Receipts at the Issue Price, exercisable within 30 days following the Closing Date for market stabilization or to cover over-allotments.
• Closing Date: Expected on or about December 15, 2025, subject to customary closing conditions, including TSX approval.
• Terms: All other terms remain unchanged from the previously announced offering.

Notable Quotes

• No direct quotes from the CEO/President were included in the provided text.