Rio Alto Completes Final Tranche of C$0.75 Private Placement for Proceeds of C$943,108
For Immediate Release
Rio Alto Mining Limited (“Rio Alto”) (TSXV & BVL: RIO, OTCQX: RIOAF, DB Frankfurt: MS2) is pleased to announce that has closed the second and final tranche of its current C$0.75 private placement of common shares. At this closing, 1,257,477 common shares were sold for gross proceeds of C$943,108. A total of 11,354,639 common shares were issued pursuant to this private placement for aggregate gross proceeds of C$8,515,980. Certain insiders of Rio Alto participated in the private placement and purchased in aggregate 1,100,000 common shares (C$825,000).
The common shares issued pursuant to the private placement are subject to a statutory resale restriction period of four months and a day from the day of issuance. The completion of the private placement is subject to final approval from the TSX Venture Exchange.
Rio Alto plans to bring La Arena Gold Oxide Project into production during 2010 and to use cash flow from production to further develop its assets in Peru. To learn more about Rio Alto, please visit Rio Alto’s website or Rio Alto’s profile on SEDAR at www.sedar.com
Reader Advisory
Certain statements contained herein constitute forward-looking statements, including the use of proceeds of the private placement and development of La Arena Gold Oxide Project. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. Rio Alto believes the expectations reflected in these forward looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements in this press release should not be unduly relied upon. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in Rio Alto's disclosure documents on the SEDAR website at www.sedar.com. Forward-looking statements included in this press release are made as of the date of this press release and Rio Alto disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
To learn more about Rio Alto Mining Limited, please visit: www.rioaltomining.com
ON BEHALF OF THE BOARD OF
RIO ALTO MINING LIMITED
Feisal Somji
President and CEO
FOR FURTHER INFORMATION, CONTACT:
Alejandra Gomez, Investor Relations
Phone: 604.628.1401
Fax: 866.393.4493
Email: alejandrag@rioaltomining.com
Web: www.rioaltomining.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts the responsibility for the adequacy or accuracy of this release.
