July 5, 2018, Toronto, Ontario, Canada – Rio Silver Inc. (“Rio Silver” or the “Company”) (TSX.V: RYO) announces that it has received TSX Venture Exchange approval to settle an aggregate of $42,894 of indebtedness (the “Debt“) owed to certain arm’s length and non-arm’s length creditors through the issuance of an aggregate of 857,879 common shares at a deemed issuance price of $0.05 per common share (the “Transaction”), of which 497,200 common shares will be issued to non arm’s length creditors. All common shares issued to settle the Debt will be subject to a hold period expiring on November 5, 2018. Completion of the Transaction will allow the Company to improve its current working capital deficiency position.
ON BEHALF OF THE BOARD OF DIRECTORS OF RIO SILVER INC.
President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forwardlooking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.
For more information contact:
Jeff Reeder, President, CEO
Tel: (647) 302-3290
Steve Brunelle, Chairman
Tel: (416) 854-2552