Rio Grande Resources Closes Successful Private Placement

Rio Grande Resources Ltd., a company listed on the Canadian Securities Exchange, has announced the closing of its fully subscribed non-brokered private placement. The placement involved the issuance of 13,328,900 units at $0.10 each, generating proceeds of $1,332,890. Each unit comprises one common share and one transferable common share purchase warrant, with the warrant enabling the purchase of an additional share at $0.20 within 24 months.

Some directors and officers participated, rendering it a related party transaction under MI 61-101, though exempt from formal valuation. The net proceeds will support exploration activities and general corporate needs. Securities issued are subject to a four-month hold period; they are not registered under U.S. securities laws and cannot be offered in the U.S. without registration.