Revised Terms Agreed between Rio Silver and Maria Norte
Rio Silver Inc., a resource development company focused on acquiring precious metal assets, has announced an amendment to the terms of the acquisition of the Maria Norte project from Peruvian Metals Corp.
According to the updated terms, the payment to Peruvian will include an initial payment of $22,500 (U.S.) and semi-annual payments of $25,000 (U.S.) in the aggregate amount of $250,000 (U.S.). The adjusted number of payment securities to be issued to Peruvian will be 9.9% of the Issued capital shares of Rio Silver, up to but not exceeding four million shares.
Chris Verrico, the Director, President, and Chief Executive Officer of Rio Silver Inc., expressed optimism about Peru's mining policies and growth, as evident by continued investment in the country. The specific financial advisors who received options in connection with the amended terms are not named in the available search results.
In a separate announcement, Rio Silver Inc. has issued 1.14 million options to purchase one common share for a price of $0.125 per share to consultants and employees. The issuance of these options is subject to regulatory vesting provisions and approval from the Canadian Securities Exchange.
It is important to note that the TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. This news release contains forward-looking statements, which may not materialize as expected due to various risks and uncertainties. Factors that could cause actual results to differ materially from forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There is no obligation to update any forward-looking statements except as required by applicable laws.
For further information, please contact Christopher Verrico, President and CEO, at Tel: (604) 762-4448, Email: [email protected], or visit the company's website at www.riosilverinc.com. The news release was provided by GlobeNewswire via QuoteMedia.
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