Rio2 Announces Closing of Brokered Private Placement for Gross Proceeds of C$14 Million

Core Viewpoint - Rio2 Limited has successfully closed a brokered private placement, raising C$14 million (approximately US$10 million) through the sale of 6,306,300 common shares at a price of C$2.22 (approximately US$1.585) per share [1][2]. Group 1: Financial Details - The private placement involved the sale of 6,306,300 common shares [1]. - The total gross proceeds from the placement amounted to C$14 million (approximately US$10 million) [1]. - The shares were sold to investors in Peru and Chile [1]. Group 2: Use of Proceeds - The net proceeds from the private placement will be utilized for working capital and general corporate purposes [2]. Group 3: Company Overview - Rio2 Limited is a mining company focused on the development and mining operations, particularly the Fenix Gold Project in Chile [4]. - The company aims to achieve production in the shortest possible timeframe through a staged development strategy [4]. - Rio2 is committed to high environmental standards and sustainable development practices [4].