Rio Grande Resources Completes $2.55 Million Private Placement

Rio Grande Resources Ltd. has successfully finalized its non-brokered private placement, securing gross proceeds of $2,546,500. This was achieved through the issuance of 12,732,500 units at a price of $0.20 per unit. Each unit comprises one common share and one warrant, allowing the purchase of an additional share at $0.40 over two years.

The funds will be directed towards exploration and corporate needs. Associated fees totaled $141,510, with 707,550 finder's warrants issued, exercisable at $0.34 per share. Notably, securities from this placement will adhere to a hold period of four months and a day, as per Canadian Securities Exchange regulations.

Exclusions apply for registration under U.S. securities laws, reflecting no offer or sale intentions in the U.S. market without appropriate exemption or registration. This placement focuses solely on Canadian and international engagements outside the U.S.