RIO2 ANNOUNCES UPSIZE OF PREVIOUSLY ANNOUNCED BOUGHT DEAL FINANCING TO C$166 MILLION

Rio2 Limited announced an upsize of its previously announced bought deal financing to C$166 million, reflecting strong investor appetite for the company's equity offering. The financing is being managed by a syndicate of prominent investment banks including Raymond James Ltd., Stifel Nicolaus Canada Inc., and BMO Nesbitt Burns Inc., who are serving as co-lead underwriters and joint bookrunners for the transaction.

The decision to increase the size of the financing demonstrates robust institutional and retail investor confidence in Rio2's business prospects and strategic direction. The strong demand that necessitated the upsize suggests favorable market conditions for the company and potentially indicates investor optimism about its operational performance or development pipeline.

This substantial financing will provide Rio2 with enhanced financial flexibility to pursue its corporate objectives, whether related to operational expansion, debt reduction, or strategic investments. The involvement of multiple tier-one investment banks as co-leads also signals the significance of this transaction within the broader mining finance landscape.

The successful completion of this upsized financing positions Rio2 with strengthened capital resources at a time when access to capital markets remains selective for mining companies. This transaction may serve as a positive indicator for other mining companies seeking to access equity financing markets.