Vancouver, British Columbia--(Newsfile Corp. - September 17, 2025) - River Road Resources Ltd. (TSXV: RRRL) ("River Road" or the "Company") is pleased to announce that it has successfully completed its initial public offering (the "IPO") of 3,333,333 common shares (the "Shares") at a price of $0.15 per Share pursuant to the Company's prospectus dated August 20, 2025 (the "Prospectus"). The gross proceeds from the IPO, before deducting agent fees and estimated offering expenses, were $500,000. The Company's common shares (the "Common Shares") were listed on the TSX Venture Exchange (the "Exchange") on September 15, 2025 and were immediately halted pending the closing of the IPO. Trading of the Common Shares on the Exchange is expected to resume on market open on September 18, 2025 under the ticker symbol "RRRL".
Pursuant to an agency agreement dated August 20, 2025, between Research Capital Corporation (the "Agent") and the Company, the Agent acted as agent for the Company in connection with the IPO. The Company paid the Agent a cash commission in the amount of $38,500, representing 8.0% of the gross proceeds of the IPO (reduced to 3.0% of proceeds raised on president's list members) and granted the Agent and non-transferable warrants ("Agent's Warrants") to purchase up to an aggregate of 254,666 Common Shares (the "Agent's Warrant Shares") at a price of $0.15 per Agent's Warrant Shares until September 17, 2027. The Company also paid the Agent a corporate finance fee of $27,500 plus GST and reimbursed the Agent for its legal fees and reasonable expenses.
River Road expects to use the net proceeds from the IPO to complete Phase 1 of its exploration program on the Stobart Property located in the Clinton Mining District of British Columbia and for general working capital purposes, all as further set out in the Prospectus. After completion of the IPO, River Road now has 11,483,334 Common Shares issued and outstanding on a non-diluted basis, of which 600,000 Common Shares are subject to statutory escrow restrictions. 800,000 Common Shares previously issued to Nexus Uranium Corp. pursuant to an option agreement will be subject to a one-year escrow in accordance with seed share resale restrictions under the Exchange's policies.
The securities referenced in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any applicable state securities laws and may not be offered or sold in the United States or to "U.S. persons" (as such term is defined in Regulation S under the U.S. Securities Act) absent such registration or an applicable exemption from such registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy such securities in any jurisdiction.
An electronic or paper copy of the Prospectus and any amendment may be obtained, without charge, from River Road at tim@mammothgeological.com by providing the contact with an email address or address, as applicable.
For more information, please refer to the Prospectus filed with the securities commissions in British Columbia, Alberta, and Ontario, available on SEDAR+ (www.sedarplus.ca), under the Company's profile or please contact:
On behalf of the Board of Directors:
Tim Henneberry
CEO and Director
(250) 743-8228
About River Road Resources Ltd.
River Road Resources Ltd. is a mineral exploration company engaged in the acquisition, exploration, and evaluation of resource properties, listed on the TSX Venture Exchange under the symbol "RRRL". The Company holds the option to earn a 100% interest, subject to a 2% NSR royalty, in the Stobart Property, comprised of two mineral claims totalling approximately 724 hectares, located in the Clinton Mining District of British Columbia.
Forward-Looking Statements
Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, when the Company's shares will resume trading on the Exchange, the use of proceeds of the IPO, and the release of securities from escrow restrictions. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "will", "will be", "intends", "expected" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by management of the Company, they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different, including receipt of all necessary regulatory approvals. Although management of the Company have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended including without limitation those factors discussed under the heading "Risk Factors" in the Prospectus and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company's profile on SEDAR+. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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SOURCE: River Road Resources Ltd.
