**NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES**
VANCOUVER, British Columbia, Aug. 10, 2021 (GLOBE NEWSWIRE) —(“Rio2” or “the Company”) ( ; OTCQX: RIOFF; BVL: RIO) announces that it has closed the underwritten public offering (the “Public Offering”) of common shares of the Company (“Common Shares”) and the private placement of Common Shares (the “Private Placement”) to (“Wheaton”), previously announced for combined gross proceeds of C$35,144,122.
A total of 44,275,000 Common Shares were issued pursuant to the Public Offering at the price of C$0.65 per share, inclusive of 5,775,000 Common Shares issued upon the exercise of the over-allotment option in full, for aggregate gross proceeds to Rio2 of C$28,778,750.
Scotiabank, CIBC Capital Markets and Raymond James, as joint bookrunners and co-lead underwriters, along with Cantor Fitzgerald Canada Corporation, Sprott Capital Partners LP, and Cormark Securities Inc. acted as the underwriters for the Public Offering.
A total of 9,792,880 Common Shares were issued to Wheaton pursuant to the Private Placement at the price of C$0.65 per share for gross proceeds to Rio2 of C$6,365,372 (approximately the Canadian dollar equivalent of US$5 million). The Private Placement was completed on a non-brokered basis.
Not less than US$20 million of the aggregate net proceeds of the Public Offering and the Private Placement will be used to fund development of the Company’s Fenix Gold Project and associated mine and camp infrastructure (which, for greater certainty includes development of related infrastructure by Lince S.A., a wholly owned subsidiary of the Company). The remaining combined proceeds is expected to be used for general working capital purposes.
The Common Shares issued pursuant to the Private Placement are subject to a hold period of four months plus one day from the date of closing of the Private Placement. Final acceptance by the TSX Venture Exchange (the “TSXV”) of the Public Offering and the Private Placement is subject to the completion of customary post-closing filings.
DLA Piper (Canada) LLP acted as legal counsel to Rio2 and Borden Ladner Gervais LLP (BLG) acted as legal counsel to the underwriters.
Rio2 is a mining company with a focus on development and mining operations with a team that has proven technical skills as well as a successful capital markets track record. Rio2 is focused on taking its Fenix Gold Project in Chile to production in the shortest possible timeframe based on a staged development strategy. In addition to the Fenix Gold Project in development in Chile,continues to pursue additional strategic acquisitions where it can deploy its operational excellence and responsible mining practices to build a multi-asset, multi-jurisdiction, precious metals company.
This news release contains forward-looking statements and forward-looking information (collectively “forward-looking information”) within the meaning of applicable securities laws relating to Rio2’s planned development of its Fenix Gold Project and other aspects of Rio2’s anticipated future operations and plans. In addition, without limiting the generality of the foregoing, this news release contains forward-looking information pertaining to the following: the use of proceeds of the Public Offering and the Private Placement, the final acceptance of the Public Offering and Private Placement by the TSXV and other matters ancillary or incidental to the foregoing.
All statements included herein, other than statements of historical fact, may be forward-looking information and such information involves various risks and uncertainties. Forward-looking information is often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe”, and similar expressions. The forward-looking information is based on certain key expectations and assumptions made by Rio2’s management which may prove to be incorrect, including but not limited to: expectations concerning prevailing commodity prices, general market conditions, exchange rates, interest rates, applicable royalty rates and tax laws; capital efficiencies; legislative and regulatory environment of Chile; future production rates and estimates of capital and operating costs; estimates of reserves and resources; anticipated timing and results of capital expenditures; the sufficiency of capital expenditures in carrying out planned activities; performance; the availability and cost of financing, labor and services; and Rio2’s ability to access capital on satisfactory terms.
Rio2 believes the expectations reflected in these forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements in this news release should not be unduly relied upon. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in Rio2’s disclosure documents on the SEDAR website at www.sedar.com. These risks and uncertainties include, but are not limited to: risks and uncertainties relating to the completion of the financings as described herein, and management’s ability to anticipate and manage the factors and risks referred to herein. Forward-looking statements included in this news release are made as of the date of this news release and such information should not be relied upon as representing its views as of any date subsequent to the date of this news release. Rio2 has attempted to identify important factors that could cause actual results, performance or achievements to vary from those current expectations or estimates expressed or implied by the forward-looking information. However, there may be other factors that cause results, performance or achievements not to be as expected or estimated and that could cause actual results, performance or achievements to differ materially from current expectations. Rio2 disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
ON BEHALF OF THE BOARD OF
President, CEO & Director
Email: [email protected]
Tel: 1 (604) 260-2696
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts the responsibility for the adequacy or accuracy of this release.
Great Atlantic Resources Closes First Tranche of Financing $1,280,500
VANCOUVER, BC / ACCESSWIRE / November 30, 2021 / GREAT ATLANTIC RESOURCES CORP. (TSXV:GR) (the "Company" or "Great Atlantic") is pleased to announce that…
VANCOUVER, BC / ACCESSWIRE / November 30, 2021 /( ) (the “Company” or “Great Atlantic”) is pleased to announce that it has closed the first tranche of a non-brokered private placement originally announced on November 17, 2021, consisting of 3,201,250 flow-through shares at a price of $0.40 per share for gross proceeds of $1,280,500. Each Flow-Through unit consists of one common share that qualifies as a “flow-through share” as defined in subsection 66(15) of the Income Tax Act and one share purchase warrant. Each whole warrant will entitle the holder to purchase one additional non-flow common share at the price of $0.75 for 36 months after closing. The net proceeds from the Offering will be used for exploration expenses on the Company’s mineral properties in Atlantic Canada.
The Company paid a cash commission of $70,000 and issued 175,000 finders warrants to Qwest Investment Fund Management Ltd. The finder warrants are valid for 3 years from closing with an exercise price of $0.40. The Company also paid a cash commission of $2,800 and issued 7,000 finder warrants to Haywood Securities Inc. and paid a cash commission of $7,385 and issued 18,463 finder warrants to Arthur Perna. These finder warrants are valid for 3 years from closing with an exercise price of $0.75
All securities issued in connection with the flow through Offering will be subject to a hold period expiring March 25, 2022. The closing of this private placement financing is subject to final TSX-V approval.
On Behalf of the board of directors
“Christopher R Anderson”
Mr. Christopher R. Anderson
“Always be positive, strive for solutions, and never give up”
President CEO Director
Office Line 604-488-3900
About: is a Canadian exploration company focused on the discovery and development of mineral assets in the resource-rich and sovereign risk-free realm of Atlantic Canada, one of the number one mining regions of the world. Great Atlantic is currently surging forward building the company utilizing a Project Generation model, with a special focus on the most critical elements on the planet that are prominent in Atlantic Canada, Antimony, Tungsten and Gold.
This press release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Great Atlantic Resource Corp
888 Dunsmuir Street – Suite 888, Vancouver, B.C., V6C 3K4
View source version on accesswire.com:
Eric Sprott Announces Voting Support Agreement for Hochschild Mining PLC’s Proposed Acquisition of Amarillo Gold Corporation
Toronto, Ontario–(Newsfile Corp. – November 30, 2021) – Further to the press release of Amarillo Gold Corporation (Amarillo) dated November 29, 2021,…
Toronto, Ontario–(Newsfile Corp. – November 30, 2021) – Further to the press release of(Amarillo) dated November 29, 2021, Eric Sprott announces that 2176423 Ontario Ltd., a company which Mr. Sprott beneficially owns, has entered into a voting support agreement with Hochschild Mining PLC (Hochschild) in connection with Hochschild’s proposed acquisition of all of the issued and outstanding common shares of Amarillo (Amarillo Shares) by way of a statutory plan of arrangement (Arrangement) under the Business Corporations Act (British Columbia).
2176423 Ontario holds 68,300,000 Amarillo Shares representing approximately 17.7% of the outstanding Amarillo Shares.
Mr. Sprott intends to hold the Amarillo Shares through 2176423 Ontario for investment purposes and to support the Arrangement, and, depending on market or other conditions, may acquire additional securities of Amarillo. If the Arrangement does not close or the voting support agreement is terminated, Mr. Sprott may acquire additional securities of Amarillo including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.
Amarillo is located at 82 Richmond Street East, Suite 201, Toronto, Ontario M5C 1P1. A copy of 2176423 Ontario’s early warning report will appear on Amarillo’s profile on SEDAR at www.sedar.com and may also be obtained by contacting Mr. Sprott’s office at (416) 945-3294 (200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/105858
Troubadour Amends Texas Project Option Agreement and Announces Proposed Consolidation
Vancouver, British Columbia–(Newsfile Corp. – November 30, 2021) – TROUBADOUR RESOURCES INC. (TSXV: TR) (OTC Pink: TROUF) (the "Company") is pleased to…
Vancouver, British Columbia–(Newsfile Corp. – November 30, 2021) –( ) (OTC Pink: TROUF) (the “Company”) is pleased to announce that it has reached an agreement with the Vendor of the Texas Gold project, located in the historic Beaverdell Mining Camp in southern, B.C., to extend the payments due on the Year 1 anniversary of the agreement by up to 6 months for consideration of $5,000. All other terms of the option remain the same.
Proposed Share Consolidation
The Company also wishes to announces that it intends to consolidate its issued and outstanding common shares at a ratio of two and a half (2.5) pre-consolidated shares to one (1) post-consolidation share (the “Consolidation“). The purpose of the Consolidation is to facilitate the Company’s ability to attract future financings, put the Company in a better position to complete acquisitions and generate greater investor interest.
The Company currently has 35,452,835 common shares issued and outstanding. Upon completion of the Consolidation, the Company anticipates there will be 14,181,134 common shares issued and outstanding.
“The share consolidation will put the Company in a better position to create significant value more reflective of its existing assets and any potential new acquisitions. Share consolidations are typically viewed in a negative context, but in this instance, we view it as a very positive move for the Company,” states Company President Geoff Schellenberg.
In accordance with the Company’s Articles, the Consolidation is not subject to shareholder approval. The Consolidation is subject to acceptance from the TSX Venture Exchange.
( ) (OTC Pink: TROUF) is a public Canadian mining exploration company focused on copper and gold in British Columbia, Canada. The Company is managed by an experienced team consisting of youthful and seasoned professionals with proven track records as mine finders. The newly acquired Texas gold property diversifies the Company’s commodity focus and compliments Troubadour’s Amarillo copper project located 10 km south of the past-producing Brenda Mine in southern BC and 35 km east of Kodiak Copper’s MPD discovery.
For further information please contact:
625 Howe Street, Suite 488
Vancouver, BC V6C 2T6
Geoff Schellenberg, President
Office: (604) 681-0221
Forward Looking Information
Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company. Readers are cautioned not to place undue reliance on forward looking statements.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/105761
2 Years in Operation Alpha Lithium Secures Huge Backing From Uranium One at Tolillar Salar, Argentina
Benton Options High Grade VMS-Gold Project, Central Newfoundland
Galantas Reports Financial Results For The Quarter Ended September 30, 2021
Tocvan Announces Start of Exploration at Pilar and Updates on Financing
Anaconda Mining Files Updated Mineral Resource Estimate and Mineral Reserves for the Point Rousse Gold Project
Denarius Announces Third Quarter and First Nine Months 2021 Results
Lion One Reports Additional High-Grade Intercepts from Infill Drilling at Tuvatu Gold Project, Fiji
Whitehorse Gold Appoints Gordon Neal as CEO and Director
Kirkland Lake Gold Announces Receipt of Notices for Investigation and Improvement by Environmental Protection Authority Victoria
Sulliden Mining Capital Announces AGM Results
Energy & Critical Metals22 hours ago
First Cobalt (Renamed Electra Battery Materials) – 6 Ways to WIN!
Precious Metals1 hour ago
New Found Gold Neighbor Canstar Resources Might Be Sitting on Canada’s Next Big Gold Discovery
Energy & Critical Metals23 hours ago
Emerging Supply Gap in 2nd Half of this Decade Necessitates New Slew of Copper Mine Projects
Articles21 hours ago
Is the Newfoundland Gold Junior Sell-Off Done?
Energy & Critical Metals1 hour ago
NEO Lithium’s Closest Neighbor Gets Ready to Drill
Articles19 hours ago
Top Copper Stocks To Watch
Precious Metals2 hours ago
Looking for Leverage? Silver Sands at a Sub $10 Million Valuation Offers the Highest Leverage Drilling Play Around
Energy & Critical Metals20 hours ago
Is Phosphate Rock Sexy? Yes! And, Arianne Phosphate is Looking Hot