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Vancouver, British Columbia--(Newsfile Corp. - April 25, 2025) - Rhyolite Resources Ltd. (TSXV: RYE) (the "Company") announces that it will offer up to 25,000,000 common shares (each, a "Share") by way of a non-brokered private placement (the "Offering") at a price of $0.15 per Share, for gross proceeds of up to $3,750,000.
In connection with completion of the Offering, the Company may pay finders' fees to eligible parties that assisted in introducing subscribers to the Company. All securities to be issued in connection with the Offering will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws. Completion of the Offering remains subject to approval of the TSX Venture Exchange.
The Company anticipates that insiders of the Company will participate in the Offering in amount of up to twenty-five percent (25%) of the total Offering. To the extent insiders do elect to participate, this participation their participation will constitute "related party transactions" within the meaning of TSXV Policy 5.9 and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). For those transactions, the Company intends to rely upon the exemption from the formal valuation requirements contained in Section 5.5(a) of MI 61-101 and the exemption from the minority shareholder requirements contained in Section 5.7(1)(a) of MI 61-101.
For further information, contact Richard Graham at 604.488.5427.
On behalf of the Board,
Rhyolite Resources Ltd.
Richard Graham, Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain certain "Forward-Looking Statements" within the meaning of applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the intended use of proceeds from the Offering and other factors or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities Laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/249780
