Rio Tinto subscribes for C$21.27 million Mogotes Metals units in minority stake deal
RIO•Warrants and initial stake
The units include one common share and one-half warrant, for 15,193,929 warrants total, exercisable at C$1 for 18 months.
The transaction implies an initial stake of about 5%, subject to regulatory approvals including the TSX Venture Exchange.
Strategic and technical alliance tied to Filo Sur
Closing would trigger a strategic and technical alliance focused on the Filo Sur project, including a 15-month exclusivity period.
Rio Tinto to invest about US$15 million via unit subscription
Mogotes Metals signed a binding term sheet for Rio Tinto to invest about US$15 million via a unit subscription.
Rio Tinto to buy 30,387,857 units at C$0.7 each for gross proceeds of about C$21.27 million.
