VANCOUVER, British Columbia, Dec. 11, 2025 (GLOBE NEWSWIRE) -- Rio2 Limited ("Rio2" or the "Company") (TSX:RIO, OTCQX:RIOFF, BVL: RIO)) today announced that it has filed a prospectus supplement dated December 10, 2025 (the "Prospectus Supplement"), to its short form base shelf prospectus dated October 16, 2024, as amended pursuant to amendment no. 1 to such short form base shelf prospectus dated December 3, 2025 (the "Base Shelf Prospectus").
The Prospectus Supplement was filed with the securities regulatory authorities in each of the provinces and territories of Canada, except Quebec, to qualify the public distribution of 74,865,000 subscription receipts (the "Subscription Receipts") at a price of $2.22 per Subscription Receipt in connection with the Company's previously announced "bought deal" equity offering (the "Equity Financing") and acquisition of the Condestable mine (the "Transaction"). The full particulars of the Equity Financing along with the possible exercise and issue of securities pursuant to the over-allotment option are set out in the Prospectus Supplement.
The Company has granted the underwriters of the Equity Financing an over-allotment option (the "Over-Allotment Option"), exercisable in whole or in part, at any time, and from time to time, for a period of 30 days following the closing of the Equity Financing, to purchase at $2.22 per Subscription Receipt up to such number of additional Subscription Receipts as is equal to 15% of the number of Subscription Receipts sold pursuant to the Equity Financing. The underwriters can elect to exercise the Over-Allotment Option to cover over-allotments, if any, and for market stabilization purposes.
Closing of the Equity Financing is expected to occur on or about December 15, 2025, and is subject to satisfaction of certain customary closing conditions, including the receipt of all necessary approvals from the the Toronto Stock Exchange (the "TSX"). The TSX has provided its conditional approval of the listing of the Subscription Receipts and underlying common shares of Rio2. Listing of such securities will be subject to Rio2 fulfilling all of the listing requirements of the TSX
The Prospectus Supplement, the Base Shelf Prospectus, and any amendment, as applicable, and a related corporate presentation are accessible under the Company's profile on SEDAR+ at www.sedarplus.ca and on the Company's website at www.rio2.com.
Acquisition of Condestable Mine
As announced on December 8, 2025, Rio2 has entered into a definitive agreement to acquire a 99.1% interest in the Condestable mine ("Condestable Mine") located in Peru (the "Transaction").
Readers are encouraged to review the Prospectus Supplement, in particular the section entitled "The Acquisition", for details regarding the Transaction, including highlights and rationale for the Transaction, and operating and ...
