Stockwatch

Rio Silver Inc (2)
Symbol	RYO
Shares Issued	74,444,844
Close 2023-05-11	C$ 0.03
Market Cap	C$ 2,233,345
Recent Sedar Documents

Rio Silver arranges $500,000 private placement

2023-05-18 23:56 ET - News Release

Williams Subject: May 19, 2023 News Release for Dissemination at Market Open Frida, May 19, 2023 please Word Document File: '\\swfile\EmailIn\20230518 202849 Attachment 2023-05 Rio Silver Inc - News Release announcing PP $0.05 Units (00157159-2xD9E45).DOCX' {007871000-00157159; 2 } 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 and 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 capital 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 closing 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 exploration 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: chris.verrico@riosilverinc.com 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 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.