RIO2 Limited Receives US$5 Million from Chilean Iva/Vat Refund
RIO2 LIMITED RECEIVES US$5 MILLION FROM CHILEAN IVA/VAT REFUND
For Immediate Release June 20, 2023
VANCOUVER, B.C., - Rio2 Limited (“ Rio2” or the “ Company”) (TSXV: RIO; OTCQX: RIOFF; BVL: RIO)
today announces that the Chilean Internal Revenue Service has issued Fenix Gold Limitada, Rio2’s
wholly owned subsidiary in Chile, an IVA/VAT (Impuestos a Las Ventas y Servicios/Value Added Tax)
refund in the amount of CLP$4,073,551,385 (the equivalent of approximately US$5,092,000 at current
exchange rates).
In Chile, an IVA/VAT refund is usually not received until after a mining company achieves commercial
production. However, Fenix Gold Limitada applied for the refund of IVA/VAT credits under a special
program that allows IVA/V AT paid on expenditures that are capital in nature to be refunded at an
accelerated pace. In January 2023, Rio2’s other wholly owned Chilean subsidiary, Lince S.A., received
an IVA/VAT refund of US$1.3 million under the same program.
The abovementioned refunds will provide additional working capital for the continued advancement
of the Fenix Gold Project.
Andrew Cox, President, CEO , and Director commented, “We are very pleased to have received this
timely IVA/VAT refund. With these funds, Rio2 and Fen ix Gold are now funded, at our current cash
burn rate, into Q2, 2024. We recognize the tremendous efforts of our accounting staff in Chile to make
this happen, as we patiently wait for our Fenix Gold administrative appeal to be heard. To date, the
company has not received confirmation from the Chilean authorities as to when the appeal will be
heard.”
ABOUT RIO2 LIMITED
Rio2 is a mining company with a focus on development and mining operations with a team that has
proven technical skills as well as successful capital markets track record. Rio2 is focused on taking its
Fenix Gold Project in Chile to production in the shortest possible timeframe based on a staged
development strategy. Rio2 and its wholly owned subsidiary, Fenix Gold Limitada, are companies with
the highest environmental standards and responsibility with the firm conviction that it is possible to
develop mining projects that respect the three axes (Social, Environment, Economics) of sustainable
development. As related companies, we reaffirm our commitment to apply environmental standards
beyond those that are mandated by regulators, seeking to protect and preserve the environment of
the territories that we operate in.
Forward-Looking Statements
Certain information contained in this press release constitutes “forward -looking information” within
the meaning of applicable securities legislation. Generally, these forward- looking statements can be
identified by the use of forward-looking terminology such as “plans,” “expects,” or “does not expect,”
is expected,” “budget,” “scheduled,” “estimates,” “forecasts,” “intends,” “anticipates,” or “does not
anticipate,” or “believes,” or variations of such words and phrases or state that certain actions, events
or results “may ,” “could,” “would,” “might” or “will be taken ,” “occur,” “be achieved” or “has the
potential to.” Actual results and outcomes may differ materially from what is expressed or forecasted
in these forward -looking statements. Such statements are qualified in their entirety by the inherent
risks and uncertainties surrounding future expectations. Among those factors which could cause actual
results to differ materially are the following: market conditions and other risk factors listed from time
to time in our reports f iled with Canadian securities regulators on SEDAR at www.sedar.com. The
forward-looking statements included in this press release are made as of the date of this press release
and the Company disclaims any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events , or otherwise, except as expressly
required by applicable securities legislation.
To learn more about Rio2 Limited, please visit www.rio2.com or Rio2’s SEDAR profile at
www.sedar.com.
ON BEHALF OF THE BOARD OF RIO2 LIMITED
Alex Black
Executive Chairman
Email: [email protected]
Tel: +51 99279 4655
Kathryn Johnson
Executive Vice President, CFO & Corporate Secretary
Email: [email protected]
Tel: +1 604 762 4720
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts the responsibility for the adequacy or accuracy of this
release.