Riverside Resources Completes First Financing for Ravena Resources Corp. in Advance of Proposed TSX Venture Spinout

Riverside Resources Inc. (RRI) has completed a corporate reorganization that renamed its subsidiary to Ravena Resources Corp., a move designed to facilitate the spin-out of its Mexican exploration portfolio onto the TSX Venture Exchange. As part of this transition, Ravena raised C$992,563 through a non-brokered private placement of 4,962,815 shares priced at C$0.20 per share.

The capital raised will fund exploration activities at the flagship Los Cuarentas project, including mapping, sampling, and geophysics, while also covering the costs of updating technical disclosure for the listing and general administrative expenses. Michael Graham has been appointed CEO, with Dr. John-Mark Staude serving as Non-Executive Chairman. Ravena targets a TSX-V listing in the first half of 2027, subject to regulatory acceptance and further financings. Riverside retains long-term exposure to the assets through its share position and a portfolio of net smelter return (NSR) royalties.

Riverside Resources Inc. (RRI) has completed a spin-out that aligns with its established "project generator" model, a strategy previously executed with Blue Jay Gold and Capitan Silver. The transaction includes a C$1M financing, described as standard "founders' financing" intended to establish the new entity's balance sheet and cover initial listing costs. This capital structure does not represent a dilutive capital raise for the parent company.

The announcement is considered expected and incremental, consistent with the company's stated 2026 strategic outlook to advance Mexican assets through separate listed entities while retaining royalty exposure. Consequently, no immediate change to Riverside's consolidated financials or cash position is expected, as Ravena is now a separate reporting entity.

Riverside Resources Inc. (RRI) is a mineral exploration and project generator company operating across Canada and Mexico. Its flagship asset is the Union Project in Sonora, Mexico, a district-scale carbonate replacement deposit (CRD) gold-silver system. Phase 1 drilling was completed in late 2025, with Phase 2 underway in 2026 and funded by partner Questcorp Mining.

The company also holds other key assets, including the Red Jacket and Revel projects in British Columbia, which target volcanogenic massive sulfide (VMS) and rare earth elements (REE), as well as the Ariel porphyry copper project in Sinaloa, Mexico. Riverside Resources’ business model involves identifying early-stage opportunities, advancing them through partner funding or internal capital, and monetizing via spin-outs or royalty retention.