- Rio2 Limited (RIO) has signed a binding agreement to sell a package of Chilean royalty interests to Osisko Gold Royalties
- The royalty sale is expected to be for aggregate consideration of US$5,000,000
- The royalty sale provides for the sale of Rio2’s 1.5 per cent royalty on the Anocarire Project and its 1.25 per cent royalty on the Horizonte Project, both located in Chile
- 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 Limited opened trading at $0.125 per share
Rio2 Limited (RIO) has signed a binding agreement to sell a package of Chilean royalty interests to Osisko Gold Royalties.
The royalty sale is expected to be for aggregate consideration of US$5,000,000.
The royalty sale provides for the sale of Rio2’s 1.5 per cent royalty on the Anocarire Project and its 1.25 per cent 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 announced in September.
“We are sincerely thankful to Osisko Gold Royalties for their support during this time of challenging market conditions,” said Alex Black, President & CEO of Rio2 Limited.
“The monetization of these non-core royalty interests provides Rio2 with a welcome boost to its balance sheet and working capital,” he added.
The royalty sale is subject to customary conditions precedent and is expected to close in the coming days.
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 Limited opened trading at $0.125 per share.