The Prospector News

Rio2 Sells Non-Core Royalty Package for US$5 Million

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Rio2 Sells Non-Core Royalty Package for US$5 Million

 

 

 

 

 

Rio2 Limited (TSX-V: RIO) (OTCQX: RIOFF) (BVL: RIO) announces that it has entered into a binding agreement to sell a package of Chilean royalty interests to Osisko Gold Royalties Ltd. for aggregate consideration of US$5,000,000. The Royalty Sale provides for the sale of Rio2’s 1.5% royalty on the Anocarire Project and its 1.25% royalty on the Horizonte Project, both located in Chile.

 

Rio2 is currently in an administrative appeal process with the Chilean Government with respect to the rejection of the Environmental Impact Assessment for the development of its Fenix Gold Project, as previously outlined in a press release dated September 7, 2022.

 

Alex Black, President & CEO of Rio2 Limited, stated, “We are sincerely thankful to Osisko Gold Royalties for their support during this time of challenging market conditions. The monetization of these non-core royalty interests provides Rio2 with a welcome boost to its balance sheet and working capital.”

 

The Royalty Sale is subject to customary conditions precedent and is expected to close in the coming days.

 

ABOUT RIO2 LIMITED

 

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. Rio2 and its wholly owned subsidiary, Fenix Gold Limitada, are companies with the highest environmental standards and responsibility with the firm conviction that it is possible to develop mining projects that respect the three axes (Social, Environment, Economics) of sustainable development. As related companies, we reaffirm our commitment to apply environmental standards beyond those mandated by regulators, seeking to protect and preserve the environment of the territorieswe operate in.

 

Posted November 22, 2022

Share this news article

MORE or "UNCATEGORIZED"


Abcourt Closes US$ 8M Loan Facility to Start Sleeping Giant Mine

Abcourt Mines Inc. (TSX-V: ABI) (OTCQB: ABMBF) is pleased to anno... READ MORE

July 4, 2025

Mishkeegogamang First Nation and First Mining Sign Long Term Relationship Agreement for the Development of the Springpole Gold Project

Agreement setting out the significant participation of Mishkeegog... READ MORE

July 4, 2025

Minaurum Gold Inc. Announces Closing of Brokered Life Offering for Gross Proceeds of C$9.2M

Minaurum Gold Inc. (TSX-V: MGG) (OTCQX: MMRGF) is pleased to an... READ MORE

July 4, 2025

Great Pacific Gold Announces Closing of Upsized $16.9 Million Private Placement Financing Led by Canaccord Genuity Corp

Great Pacific Gold Corp. (TSX-V: GPAC) (OTCQX: FSXLF) (FSE: V3H)... READ MORE

July 3, 2025

Ridgeline Minerals Provides Assay Results and Drill Program Updates for the Big Blue and Atlas Projects

Big Blue highlights: 0.6 meters grading 0.7% Cu, 3,194 g/t Ag and... READ MORE

July 3, 2025

Copyright 2025 The Prospector News