Rio2 Closes C$23M Offering
VANCOUVER, British Columbia, April 17, 2024 (GLOBE NEWSWIRE) -- Rio2 Limited (“Rio2” or the “Company”) (TSXV: RIO; OTCQX: RIOFF; BVL: RIO) announces that it has closed its private placement, as announced on April 8, 2024, and April 9, 2024.
- VANCOUVER, British Columbia, April 17, 2024 (GLOBE NEWSWIRE) -- Rio2 Limited (“Rio2” or the “Company”) (TSXV: RIO; OTCQX: RIOFF; BVL: RIO) announces that it has closed its private placement, as announced on April 8, 2024, and April 9, 2024.
- A total of 59,030,000 common shares of the Company (the “Shares”) were sold at a price of $0.39 per Share (the “Offering Price”) for gross proceeds to the Company of $23,021,700 (the “Offering”).
- The Company plans to use the net proceeds from the Offering in preparation for the construction financing of the Fenix Gold Project later in 2024.
- Final acceptance by the TSX Venture Exchange (the “TSXV”) of the Offering is subject to the completion of customary post-closing filings.
Certain insiders of the Company participated in the Offering and subscribed for an aggregate of 2,438,500 shares for aggregate proceeds of $951,015.