RIO SILVER INC.

Rio Silver completed a non-brokered private placement of $3 million by issuing 8,571,429 units at $0.35 each. Investor Eric Sprott purchased 5,714,285 units for about $2 million, giving him a 10.0% undiluted and 14.3% partially diluted holding; each unit consists of one common share and a half warrant (exercise $0.50 within 24 months, with an accelerated expiry clause if the share price remains strong). The proceeds will be used to advance the Maria‑Norte project in Peru, for development work, metallurgical programs and general working capital; no brokerage fees were paid. » More on de.investing.com

Rio Silver announces a non-brokered private placement to raise up to US$3 million. The company intends to issue up to 8,571,429 units at US$0.35 each, with each unit consisting of one common share and one-half warrant; whole warrants entitle the holder to purchase one share at US$0.50 within 24 months and will accelerate to expire early if the share price is above US$0.75 for 15 consecutive trading days. Net proceeds are to be used for further development of the Maria Norte project in Peru, access infrastructure, metallurgical programs and working capital; the offering is subject to TSX Venture Exchange approval and a statutory hold period of four months plus one day. The stock currently trades at US$0.50 (market capitalization US$22.5 million) and, after a 580% rise in six months, is trading near its 52-week high. » More on de.investing.com