Altan Rio Minerals Limited announced a non-brokered private placement of up to 7,500,000 common shares at an issue price of CAD 0.08 per share for gross aggregate proceeds of up to CAD 600,000 on June 13, 2023. The company may pay finder a cash payment up to 5.5% of the gross proceeds and also number of common share purchase warrants equal to 12.5% of the gross proceeds divided by a deemed value of each finder warrant of CAD 0.04. Each finder warrant will entitle the holder to acquire one share at an exercise price of CAD 0.15 for a period two years from closing of the offering.

The transaction is subject to a statutory four month and one day hold period from their date of issue in accordance with applicable Canadian securities law. The offering remains subject to the approval of the TSXV.