RIO2 ANNOUNCES RECEIPT OF RCA RESOLUTION FOR THE FENIX GOLD PROJECT & C$10 MILLION PRIVATE PLACEMENT
Summary
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, without limiting the generality of the foregoing, this news release contains forward-looking information pertaining to the following: the potential development of a mine at the Project and the expected timing for four principal Sectorial Permits required before construction can commence on such mine; the expected timing for receipt of EOIs and the completion of the Project finance process; estimated gold resources; development, operating and future expansion plans; the expected rate of production at the Project; expected mine life; the timing, pricing and intended use of proceeds of the Offering; the receipt of TSXV approval of the Offering; the use of proceeds of financings; 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, forecast, 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 Rio2s management which may prove to be incorrect, including but not limited to: expectations regarding the Companys ability to complete the Offering on the terms and on the proposed timeline announced or at all; market conditions and the availability of financing; expectations concerning prevailing commodity prices, 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 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 Rio2s ability to access capital on satisfactory terms.Rio2 believes the expectations reflected in the forward-looking information in this news release are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information in this news release should not be unduly relied upon. 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.