Rio2 acquires 4.16 million Royal Road shares

Executive Summary

• Rio2 Ltd. participated in Royal Road Minerals Ltd.'s non-brokered private placement, purchasing 4,166,667 ordinary shares at $0.18 per share for a total consideration of $750,000.
• The transaction closed on November 27, 2025, bringing Rio2's total beneficial ownership in Royal Road to 44,021,667 shares, representing approximately 15% of Royal Road's issued and outstanding shares on a non-diluted basis.
• This participation was executed pursuant to an investor rights agreement dated September 29, 2025, which grants Rio2 the right to maintain its pro rata ownership or acquire up to a 15% interest, provided it holds at least 9.5% prior to the financing.

Key Details

• Transaction Type: Non-brokered private placement participation.
• Counterparty: Royal Road Minerals Ltd.
• Date of Closing: November 27, 2025.
• Shares Purchased: 4,166,667 ordinary shares of Royal Road.
• Price Per Share: $0.18 CAD.
• Total Consideration: $750,000 CAD.
• Pre-Transaction Holding: 39,855,000 shares (approx. 15% of issued and outstanding shares).
• Post-Transaction Holding: 44,021,667 shares (approx. 15% of issued and outstanding shares on a non-diluted basis).
• Rights Exercised: Participation under the investor rights agreement to maintain pro rata ownership and acquire up to a 15% interest.
• Regulatory Filing: Early warning report filed pursuant to National Instrument 62-103.
• Purpose: Shares acquired for investment purposes; Rio2 may acquire additional securities or dispose of existing holdings subject to the investor rights agreement.

Notable Quotes

• None provided in the text.