Rio Silver closes $2.2 million private placement financing

Rio Silver Inc. (TSX.V: RYO) (OTC: RYOOF) completed a private placement financing that raised $2.2 million in gross proceeds, the company announced November 12.

The Vancouver-based company issued 22 million units at $0.10 per unit. Each unit consists of one common share and one warrant that allows the holder to purchase an additional share at $0.15 within three years of issuance.

The warrants include an acceleration clause that triggers early expiry if Rio Silver's share price closes at $0.25 or higher for 15 consecutive trading days. In such cases, warrant holders would have 30 calendar days notice before the warrants expire.

Rio Silver paid $70,920 in finder's fees and issued 709,200 finder's warrants with the same terms as the regular warrants. All securities are subject to a four-month statutory hold period that expires March 12, 2026.

The company plans to use the net proceeds for exploration and development of projects in Peru and the Gerow Lake project in Northern Ontario, plus general working capital. Rio Silver stated it will not allocate funds to the Maria Norte project until the TSX Venture Exchange approves that acquisition, which was previously announced in March, June, August and September 2025.

The private placement was initially announced September 24, 2025. Information is based on a company press release.

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