Rio2 Announces Closing of C$63 Million Public Offering and C$5 Million Private Placement

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VANCOUVER, British Columbia, Oct. 29, 2024 (GLOBE NEWSWIRE) -- Rio2 Limited (“Rio2” or the “Company”) (TSXV: RIO; OTCQX: RIOFF; BVL: RIO) announces today that it has closed its previously announced public offering of 97,307,710 common shares of the Company (“Common Shares”) at a price of ‎C$0.65 per Common Share for gross proceeds of approximately C$63 million, including the full exercise ‎of the agents’ option (the “Public Offering”). The Public Offering was conducted pursuant to ‎the terms and conditions of an agency agreement entered into between the Company and ‎Raymond James Ltd. and Eight Capital (the “Co-Lead Agents”), along with Paradigm Capital Inc. and Pollitt & Co. Inc. (together with the Co-Lead Agents, the “Agents”). In addition to the closing of the Public Offering, the Company closed its non-brokered private placement of Common Shares to Wheaton Precious Metals International Ltd. (“Wheaton”) for proceeds of C$5 million at ‎C$0.65 per share (the “Wheaton Private Placement”).‎

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