Rio2 Ltd (TSE:RIO) has released an update.
Rio2 Limited has successfully completed a private placement, raising C$23 million through the sale of 59,030,000 common shares at C$0.39 each. The proceeds are earmarked for the advancement of the Fenix Gold Project, including construction preparation, permitting, and community relations. The offering was facilitated by a syndicate of agents led by Eight Capital and included insider participation in compliance with regulatory exemptions.
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