Rio2 arranges up to $135m to build Chile mine

TSX-V-listed Rio2 has arranged mine construction financing totalling between $125-million and $135-million to finance the construction of a mine at its Fenix gold project, in Chile.

The financing package comprises a nonbinding term sheet with Wheaton Precious Metals International (WPMI) for a $50-million gold purchase agreement, a senior project debt facility of $50-million to $60-million, a marketed public offering of about C$25-million and a nonbrokered private placement to WPMI for $35-million.