RIO Silver Announces Private Placement Financing
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RIO SILVER ANNOUNCES PRIVATE PLACEMENT FINANCING
Vancouver, British Columbia – May 19, 2023 – Rio Silver Inc. ( "Rio Silver" or the "Company") (TSX.V:
RYO) is pleased to announce a non-brokered private placement of up to 10,000,000 units of the Company
(the "Units") at a price of $0.05 per Unit (the "Offering ") for gross proceeds of up to $500,000 . Each Unit
will consist of one common share of the Company an d one share purchase warrant (a "Warrant"). Each
Warrant will entitle the holder to acquire one additional common share of the Company at a price of $0. 08
per common share. The Warrants will expire 18 months from the date of issuance unless the closing price
of the common shares of the Company is $0.15 or higher for 15 consecutive trading days any time after the
date that is four months after closing, in which case the Warrants will expire thirty (30) days after notice to
the Warrant holders through a news release announcing an earlier expiry date.
It is anticipated that certain insiders of the Company will participate in the Offering. The proceeds from the
Offering will be used to fund ongoing the Company’s business operations and for general working c apital
purposes. The Company may pay certain finders’ fees in connection with a portion of the Offering, subject
to the policies of the TSX Venture Exchange (the "Exchange").
All securities issued in connection with the Offering will be subject to a statutory hold period of four months
and a day commencing from the date of issuance. The c losing of the Offering is subject to regulatory
approval, including Exchange acceptance.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be
any sale of any of the Units in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The Units have not been and will not be registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the
United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities
Act) unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an
exemption from such registration requirements.
About Rio Silver
Rio Silver is a Canadian e xploration and mining company. Its business is to develop our 100% -owned
Ninobamba project in Peru and to unlock the potential for shareholder value at both Ninobamba Main and
Jorimina zones. The Company’s own recently commissioned and independently constructed “exploration
potential” model for Ninobamba Main has identified more development potential. Benefits are also expected
to soon materialize from the carried development of the new Palta Dorada Au Ag project, focusing on a
near-term revenue stream. For more information, please visit: https://www.riosilverinc.com/
For more information contact:
Christopher Verrico, President, CEO
Tel: 604.762.4448
Email: [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release includes forward- looking statements that are subject to risks and uncertainties. All statements within, other than
statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in
such forward-looking statements are based on reasonable assumptions, such statements are not a guarantee of future performance
and actual results or developments may differ materially from those in forward- looking statements. Factors that could cause actual
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results to differ materially from those in forward- looking statements include market prices, exploitation and exploration successes,
continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that
such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do
not assume any obligation to update any forward-looking statements except as required by applicable laws.