Rio2 Announces Upsize of Private Placement Up to C$23 Million
VANCOUVER, British Columbia, April 09, 2024 (GLOBE NEWSWIRE) -- Rio2 Limited (“Rio2” or the “Company”) (TSXV: RIO; OTCQX: RIOFF; BVL: RIO) is pleased to announce that further to the news release dated April 8, 2024, it has entered into an amending agreement with Eight Capital, as agent, to upsize the previously announced private placement. Pursuant to the upsized offering, the Company will issue up to 59,030,000 common shares of the Company (the “Shares”) at a price of $0.39 per Share (the “Offering Price”) for gross proceeds to the Company of up to $23,021,700 (the “Offering”).
- Alex Black, Executive Chairman, stated: “The Company received significant interest from key existing shareholders to participate in financing our Company at this stage of its development, far exceeding the $10 million maximum amount first announced.
- The LIFE Shares issued to Canadian resident subscribers in the Offering will not be subject to a hold period pursuant to applicable Canadian securities laws.
- The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the “U.S.
- Securities Act”) or under any U.S. state securities laws, and may not be offered or sold in the United States or to “U.S.