Workflow
Royal Road and Rio2 Announce Share Acquisition by Rio2
Globenewswireยท2025-09-29 11:30

Core Viewpoint - Rio2 Limited has acquired approximately 15.0% of Royal Road Minerals Limited's issued and outstanding shares, marking a significant investment and partnership opportunity for both companies [1][4]. Group 1: Acquisition Details - Rio2 acquired 39,855,000 ordinary shares of Royal Road at a price of $0.115 per share, totaling an investment of $4,583,325 [4]. - The acquisition was part of a block trade on the TSX Venture Exchange, transferring shares from a single investor to Rio2 and other institutional investors [2]. - Following the acquisition, Rio2 became an "insider" of Royal Road under applicable securities laws [1]. Group 2: Strategic Implications - Royal Road's President and CEO expressed enthusiasm about the partnership, highlighting Rio2's strong track record in developing gold projects and their alignment with Royal Road's growth ambitions [3]. - Rio2's Executive Chairman emphasized the geological attractiveness of Royal Road's portfolio and the potential for future diversification and growth opportunities [3]. - An Investor Rights Agreement allows Rio2 to maintain its ownership percentage and designate a nominee for Royal Road's board of directors, provided it holds at least 9.5% of the shares [3]. Group 3: Company Profiles - Royal Road Minerals is focused on mineral exploration and development, with operations in Saudi Arabia, Morocco, and Colombia, aiming to discover and develop large-scale copper and gold deposits [8]. - Rio2 Limited is a mining company concentrating on the development of its Fenix Gold Project in Chile, committed to high environmental standards and responsible mining practices [9].