Rio Tinto subscribes for C$21.27 million Mogotes Metals units for about 5% stake - RIO News | RalliesRio Tinto subscribes for C$21.27 million Mogotes Metals units for about 5% stake
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RIO• Rio Tinto takes initial stake in Mogotes Metals
- Rio Tinto subscribed for 30,387,857 units at C$0.7, raising C$21.27 million for Mogotes.
- Transaction implies an initial stake of about 5%.
- Units include 15,193,928 warrants exercisable at C$1 for 18 months, implying up to C$15.19 million proceeds.
- Funds earmarked to advance work at the Filo Sur project in Argentina and Chile.
- Rio Tinto secured 15-month Filo Sur exclusivity, match rights, and a top-up right to 9.99% during exclusivity.
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