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
