Rio2 Closes $23 Million Offering

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. ‎