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Rio2 sells non-core royalty package for $5 million, The Canadian Business Journal

VANCOUVER, British Columbia, November 22, 2022 (GLOBE NEWSWIRE) — Rio2 Limited (“Rio2” or the “Company”) (TSXV: RIO; OTCQX: RIOFF; BVL: RIO) has entered into a binding contract announce what you have done. Sell ​​a package of Chilean royalty interests to Osisko Gold Royalties Ltd.Osico”) total consideration of US$5,000,000 (“Loyalty sale”). The royalty sale offers the sale of Rio2’s 1.5% royalties to the Anokalire project in Chile and his 1.25% royalties to the Horizonte project.

Rio2 is currently in the administrative appeals process with the Chilean government regarding the denial of an environmental impact assessment for the development of the Phoenix Gold project, as outlined in a press release dated September 7, 2022.

Rio2 Limited President and CEO Alex Black said: The monetization of these non-core royalty interests will provide a welcome boost to Rio2’s balance sheet and working capital. ”

The Loyalty Sale is preceded by customary terms and will end soon.

About RIO2 LIMITED

Rio2 is a mining company focused on development and mining operations with a team of proven technical skills and a track record of success in the capital markets. Rio2 is focused on getting his Fenix ​​Gold project in Chile into production in the shortest timeframe possible, based on a phased development strategy. Rio2 and its wholly owned subsidiary, Fenix ​​Gold Limitada, are firmly convinced that it is possible to develop mining projects that respect his three axes of sustainable development (social, environmental and economic), A company with environmental standards and responsibility. As an affiliated company, we reaffirm our commitment to apply environmental standards beyond those mandated by regulatory authorities and aim to protect and sustain the environment in the areas where we operate. I’m here.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of applicable securities laws relating to the planned development of Rio2’s Fenix ​​Gold project and other aspects of Rio2’s anticipated future operations and plans. and forward-looking information (collectively, “forward-looking information”). Further, without limiting the generality of the foregoing, this news release contains forward-looking information regarding the Loyalty Sale and its completion, our plans for the Fenix ​​Gold Project and the Fenix ​​EIA, and any other incidental or other matters. is included. Accompanying the above.

All statements contained 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, “seeks,” “forecasts,” “plans,” “continues,” “estimates,” “expects,” , and are identified using words such as “scheduled”. , “predict”, “predict”, “could”, “target”, “intend”, “could”, “could”, “should”, ” expressions such as ‘believe’. Forward-looking information is based on certain important expectations and assumptions made by Rio2’s management, which may prove to be incorrect. This includes but is not limited to: capital efficiency; Chile’s legislative and regulatory environment; future production rates and estimates of capital and operating costs. reserves and resource estimates; expected timing and results of capital expenditures; adequacy of capital expenditures to carry out planned activities; performance; availability and cost of financing, labor costs, services; Rio2’s ability to access capital on satisfactory terms.

While Rio2 believes that the expectations reflected in these forward-looking statements are reasonable, there can be no assurance that these expectations will prove correct and any forward-looking statements in this news release may not be excessive. should not be relied upon by A description of the assumptions used in preparing such forward-looking information, and a description of the risk factors that could cause actual results to differ materially from the forward-looking information, is available in the Rio2 disclosure on the SEDAR website. documented. www.sedar.comThese risks and uncertainties include the risks and uncertainties associated with the closing of the financings described herein and management’s ability to predict and control the factors and risks mentioned herein. Including but not limited to: The forward-looking statements contained in this news release are made as of the date of this news release and Such information should not be relied upon as representing an opinion dated after the date of this news release. Rio2 has sought to identify important factors that could cause its actual results, performance or achievements to differ from its current expectations or estimates expressed or implied by the forward-looking information. However, there could be other factors that cause any results, performance or achievements not to be expected or estimated and 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. new information, future events or other information, except as expressly required by applicable securities laws;

For more information on Rio2 Limited, please see Rio2’s SEDAR profile at www.rio2.com or www.sedar.com.

On behalf of the Board of Directors of RIO2 LIMITED

Alex Black
Representative Director and President
Email: [email protected]
Phone: +51 99279 4655

Kathryn Johnson
Vice President, CFO
Email: [email protected]
Phone: +1 604 762 4720

Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release.


CBJ Newsmaker

Rio2 sells non-core royalty package for $5 million, The Canadian Business Journal

Source link Rio2 sells non-core royalty package for $5 million, The Canadian Business Journal

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