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Rio2 Limited (TSX: RIO) has acquired a 15% stake in Royal Road Minerals Limited (OTCQB: RRDMF), purchasing 39,855,000 ordinary shares at $0.115 per share for a total of $4.58 million. The transaction was executed through a block trade on the TSX Venture Exchange.
The companies have entered into an Investor Rights Agreement granting Rio2 the right to maintain its ownership percentage in future equity financings and nominate one board director, provided it maintains at least a 9.5% ownership stake. This strategic partnership brings together Rio2's project development expertise with Royal Road's exploration capabilities, particularly in Colombia and Saudi Arabia.
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