On April 17, 2024, Rio2 Limited ("Rio2" or the "Company") (TSXV: RIO) (OTCQX: RIOFF) (BVL: RIO) announced that it had closed its previously announced private placement, having sold a total of 59,030,000 common shares of the Company at a price of $0.39 per share (the "offering price") for gross proceeds to the Company of $23,021,700.
Rio2 entered into an agency agreement with Eight Capital and a
syndicate of agents, including Cantor Fitzgerald Canada
Corporation, Echelon Capital Markets, Pollitt & Co. Inc. and
Raymond James Ltd., under which the Company sold, on a brokered
"best efforts" basis, 25,640,000 shares at the offering
price pursuant to the listed issuer financing exemption available
under Part 5A of National Instrument 45-106 – Prospectus
Exemptions (the "LIFE offering") and 33,390,000 shares at
the offering price pursuant to other exemptions under NI 45-106 and
in accordance with other applicable securities laws in qualifying
jurisdictions.
Rio2 plans to use the net proceeds from the offering in preparation
for the construction financing of the Fenix Gold Project in Chile
later in 2024.
Gowling WLG advised the syndicate of agents with respect to the
offering with a team that included Peter Simeon, Ashley Andaya and
Matthew Brooker, assisted by student-at-law Derek Varrin.
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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
Read the original article on GowlingWLG.com
(with link to the article).The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
