13:41:12 EDT Mon 25 Oct 2021
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Rio2 Ltd (2)
Symbol RIO
Shares Issued 200,135,270
Close 2021-09-21 C$ 0.62
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Rio2 shareholders approve all matters at AGSM

2021-09-22 12:43 ET - News Release

Mr. Alex Black reports


Rio2 Ltd. has released the results of voting at its annual general and special meeting of shareholders held on Tuesday, Sept. 21, 2021. A total of 108,520,448 common shares were voted, representing 54.22 per cent of the 200,135,270 shares issued and outstanding as at the record date of the meeting.

Shareholders voted in favour of all items put forward by the board of directors and management. All seven individuals nominated for the board of directors were elected (see an attached table).

Shareholders also voted in favour of: (i) reappointing Grant Thornton LLP as auditor of the company for the ensuing year and authorizing the directors to fix Grant Thornton's remuneration; and (ii) approving and ratifying the 2018 stock option plan.

The company has also granted 4.2 million incentive stock options to purchase Rio2 common shares to directors, officers, employees and consultants, pursuant to Rio2's stock option plan.

These stock options have an expiry date of Sept. 21, 2026, and will vest as to one-third thereof on each of the first, second and third anniversaries of the grant. Each stock option entitles the holder to purchase one Rio2 common share at a price of 65 cents for a period of five years from the date of grant.

About Rio2 Ltd.

Rio2 is a mining company with a focus on development and mining operations. Rio2's team has proven technical skills as well as a successful capital market record. Rio2 is focused on taking its Fenix gold project in Chile to production in the shortest possible time frame based on a staged development strategy. In addition to the Fenix gold project in development in Chile, Rio2 continues to pursue additional strategic acquisitions where it can deploy its operational excellence and responsible mining practices to build a multiasset, multijurisdiction precious metal company.

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