Rio Grande Resources Announces Private Placement for Exploration Funding

Rio Grande Resources Ltd. has announced a non-brokered private placement, offering up to 13,328,900 units at $0.10 per unit, aiming to raise $1,332,890. Each unit includes one common share and one warrant, allowing the holder to purchase an additional share at $0.20 within 30 months.

Company insiders may participate in this placement, classified as a related party transaction under MI 61-101 regulations. Exemptions for valuation and shareholder approval are expected.

Funds will support exploration activities and corporate operations. The securities will undergo a mandatory hold period of four months and one day, subject to Canadian regulations.

The placement is set to close by June 6, 2025. U.S. securities registration has not been filed for these offerings.