VANCOUVER, British Columbia, June 25, 2025 (GLOBE NEWSWIRE) -- Rio Silver Inc. ("Rio Silver" or the "Company") (TSX.V: RYO) (OTC: RYOOF), announces shareholder approval for all matters at the AGM.
All resolutions presented at Rio Silver's annual general held on Thursday, June 19, 2025, including the election of directors, the ratification of the appointment of its auditor for the year ended December 31, 2024, the reappointment of its current auditor, the reapproval of the company's equity incentive plan and the approval for a share consolidation on a one-new-for-5-old basis. The name of the company has not been changed.
Additionally, the Company has amended its purchase agreement for the Maria Norte mining property and eliminated the royalty provisions in exchange for a one-time cash payment of US$ 22,500.00. The board of directors believes that the consolidation was necessary to better position the company for future corporate development opportunities and financing transactions.
Rio Silver chief executive officer Chris Verrico stated:
"Rio Silver is advancing its mandate for sustainability with the purchase of Maria Norte which is directly adjacent to and on trend with active mine production with demonstrated world-class silver potential. We believe that this share consolidation and advancement toward production will be aided by the company's other royalty streams and is well supported by Peru's unique small mines permitting regime, which can accelerate the initial development.
We remain ever impressed and optimistic by the resilience and ingenuity of our host country as Peru continues to endorse supportive mining policies and continued growth, as is currently evident by the tremendous investment being witnessed throughout Peru".
About Rio Silver Inc.
Rio Silver is a Canadian exploration and development company with an large per cent of insider, friends and family ownership, focused on Peru. Rio Silver continues to review precious and base metal properties in Peru while maintaining its interest in its Ontario Gerow Lake, critical metals project. This Transaction enables the Company to complete certain planned acquisitions that bring significant potential for near-term, cash flowing, production allowing the Company to leverage other similar opportunities, going forward, in a non-dilutive shareholder friendly way.
ON BEHALF OF THE BOARD OF DIRECTORS OF RIO SILVER INC.
Christopher Verrico
Director, President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
For further information,
Christopher Verrico, President, CEO
Tel: (604) 762-4448
Email: chris.verrico@riosilverinc.com
Website: www.riosilverinc.com
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 forward-looking 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 except as required by applicable laws.
