Rio Silver arranges $1.3M private placement

Core Viewpoint - Rio Silver Inc. has announced a non-brokered private placement financing of up to 13 million units at $0.10 per unit, aiming for gross proceeds of up to $1.3 million [1][4]. Group 1: Private Placement Details - Each unit consists of one common share and one transferable warrant, with each warrant exercisable into one common share at $0.15 for three years from closing [2]. - The company may accelerate the warrant expiry date if its common shares close at or above $0.25 for 15 consecutive trading days, with warrants expiring 30 days from the notice [2]. - The private placements may be closed in one or more tranches, subject to TSX-V approval, and the company may pay a finder's fee or commission of up to 8% [3]. Group 2: Use of Proceeds - The gross proceeds from the sale of the units will be allocated for exploration and development of the company's projects in Peru, as well as for general working capital purposes [4]. Group 3: Company Overview - Rio Silver is focused on identifying and acquiring precious metal assets that are expected to generate near-term cash flow, supporting its exploration and development plans in a non-dilutive manner [5]. - The company expresses optimism regarding Peru's supportive mining policies and ongoing investment in the region [5].