Rio Silver Announces Private Placement
Rio Silver Announces Private Placement
VANCOUVER
,
Sept. 2, 2019
/CNW/ -
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 ("
Units
") of the
Company at
$0.05
per Unit for gross proceeds of up to
$500,000
(the "
Offering
"). Each Unit will
consist of one common share of the Company and one common share purchase warrant (each, a
"
Warrant
") of the Company. Each Warrant will entitle the holder to acquire one additional common
share of the Company at a price of
$0.07
per share for a period of 18 months from issuance, unless
the closing price of the common shares of the Company is
$0.15
or higher for fifteen (15)
consecutive trading days any time after the date that is four months and a day after issue, in which
case the Warrants will expire thirty (30) calendar days after notice to Warrant holders 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 continue modest work on the Company's
Niñobamba silver and gold project in
Peru
; to meet its immediate financial obligations and for
working capital; and to explore new projects in
Peru
.
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
"). The securities issued herein will be
subject to a four-month statutory hold period. The closing of the Offering is subject to the approval of
the Exchange.
On behalf of the Board of Directors of Rio Silver Inc.
Neither 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 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.
SOURCE
Rio Silver
View original content:
http://www.newswire.ca/en/releases/archive/September2019/02/c4068.html
%SEDAR: 00015088E
For further information:
Christopher Verrico, President, CEO, Tel: (604) 762-4448, Email:
[email protected], Website: www.riosilverinc.com
CO: Rio Silver
CNW 11:13e 02-SEP-19