VANCOUVER, British Columbia, Oct. 28, 2025 (GLOBE NEWSWIRE) — Rio Silver Inc. (“Rio Silver” or the “Company”) (TSX.V: RYO) (OTC: RYOOF) announces that it has received “conditional approval” from the TSX Venture Exchange to close an enlarged non-brokered private placement, as described in the Company's press release dated September 25th. 2025, with cumulative gross proceeds of $2,200,000.
The offering included the issuance of 22,000,000 units at a price of 10 cents per unit for gross proceeds to the Company of $2,200,000. Each unit consists of one common share and one non-transferable warrant. Each entire warrant is exercisable into one common share at a price of 15 cents per share for a period of three years from closing. If, after the final closing date of the private placement, the company's common shares trade at or above 25 cents on the TSX Venture Exchange (or other exchange on which the shares may be traded) for 15 consecutive trading days, the company may accelerate the warrant expiration date by issuing a press release. The warrants will expire 30 days from the date of this notice.
In connection with the offering and subject to compliance with applicable laws and the approval of the TSX-V, the company will pay consideration or commissions of $74,520. and issued a total of 745,200 non-transferable warrants to purchase common shares to unaffiliated discoverers of the company, “broker warrants”, subject to the search for buyers to participate in the offering, with each warrant entitles the holder to purchase one common share of the company at an exercise price of 15 cents, also for a period of 3 years from the date of acceptance of the exchange.
The gross proceeds from the issuance and sale of the units, excluding proceeds from warrants, will be used to acquire and advance certain exploration/exploitation projects in south-central Peru, for general working capital purposes and to repay debt.
The securities issued in connection with the offering are subject to a four-month hold period from the date of acceptance for exchange in accordance with applicable Canadian securities laws. The offering is subject to final approval by the TSX Venture Exchange.
Other news
Rio Silver expects exchange approval for the acquisition of the Maria Norte Au-Ag-Pb-Zn project, with amendments and news published on September 17, 2025, in the coming days.
About Rio Silver
Rio Silver is a resource development company that selectively identifies and acquires precious metals assets expected to generate near-term cash flow to best support the company's exploration/development plans in a non-dilutive and shareholder-friendly manner. We continue to be impressed and optimistic by the resilience and ingenuity of our host country as Peru continues to support policies to support the mining industry and further growth, as evidenced by the massive investments seen throughout Peru.
We are looking for a safe harbor.
ON BEHALF OF THE BOARD OF DIRECTORS OF RIO SILVER INC.
Chris Verrico
Director, President and Chief Executive Officer
Neither the TSX Venture Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.
For more information,
Christopher Verrico, President, CEO
Tel: (604) 762-4448
E-mail: [email protected]
Website: riosilverinc.com.
This press release contains forward-looking statements that are subject to risks and uncertainties. All statements contained herein, other than statements of historical fact, should be considered forward-looking statements. Although the Company believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or events may differ materially from those contained in the forward-looking statements. Factors that could cause actual results to differ materially from forward-looking statements include market prices, development and exploration progress, the continued availability of capital and financing and general economic, market or business conditions. There can be no assurance that such statements will prove to be accurate and readers are therefore advised to rely on their own assessment of such uncertainties. We undertake no obligation to update any forward-looking statements except as required by applicable law.
