Rio Silver arranges $3-million private placement

Executive Summary

• Rio Silver Inc. has arranged a non-brokered private placement financing for gross proceeds of up to $3.0 million, led by Eric Sprott.
• The company intends to issue up to 8,571,429 units at a price of $0.35 per unit, with each unit comprising one common share and one-half of one common share purchase warrant.
• Net proceeds will be utilized for the advancement of the Maria Norte project in Peru, including access development, metallurgical programs, and general working capital.

Key Details

• Gross Proceeds: Up to $3.0 million.
• Offering Structure: Non-brokered private placement.
• Units Issued: Up to 8,571,429 units.
• Price Per Unit: $0.35.
• Warrant Terms: Each unit includes one-half of one common share purchase warrant. Each warrant entitles the holder to acquire one additional common share at an exercise price of $0.50 per share.
• Warrant Expiry: 24 months from the date of issuance.
• Accelerated Expiry Condition: Warrants expire early if the common shares trade above $0.75 for 15 consecutive trading days.
• Use of Proceeds: Advancement of the Maria Norte project in Peru, access development, metallurgical programs, and general working capital.
• Regulatory Status: Subject to regulatory approval, including approval of the TSX Venture Exchange.
• Hold Period: Securities are subject to a statutory hold period of four months and one day from the date of issuance.
• Finder's Fees: The company may pay finders' fees in accordance with TSX-V policies.

Notable Quotes

• None provided in the text.