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River Road Resources closes 3.33-million-share IPO

2025-09-17 20:10 ET - News Release

Mr. Tim Henneberry reports

RIVER ROAD RESOURCES CLOSES INITIAL PUBLIC OFFERING

River Road Resources Ltd. has successfully completed its initial public offering (IPO) of 3,333,333 common shares at a price of 15 cents per share pursuant to the company's prospectus dated Aug. 20, 2025. The gross proceeds from the IPO, before deducting agent fees and estimated offering expenses, were $500,000. The company's common shares were listed on the TSX Venture Exchange on Sept. 15, 2025, and were immediately halted pending the closing of the IPO. Trading of the common shares on the exchange is expected to resume on market open on Sept. 18, 2025, under the ticker symbol RRRL.

Pursuant to an agency agreement dated Aug. 20, 2025, between Research Capital Corp. and the company, the agent acted as agent for the company in connection with the IPO. The company paid the agent a cash commission in the amount of $38,500, representing 8.0 per cent of the gross proceeds of the IPO (reduced to 3.0 per cent of proceeds raised on president's list members) and granted the agent non-transferable warrants to purchase up to an aggregate of 254,666 common shares at a price of 15 cents per agent's warrant share until Sept. 17, 2027. The company also paid the agent a corporate finance fee of $27,500 plus GST, and reimbursed the agent for its legal fees and reasonable expenses.

River Road expects to use the net proceeds from the IPO to complete phase 1 of its exploration program on the Stobart property, located in the Clinton mining district of British Columbia, and for general working capital purposes, all as further set out in the prospectus. After completion of the IPO, River Road now has 11,483,334 common shares issued and outstanding on a non-diluted basis, of which 600,000 common shares are subject to statutory escrow restrictions. Eight hundred thousand common shares previously issued to Nexus Uranium Corp. pursuant to an option agreement will be subject to a one-year escrow in accordance with seed share resale restrictions under the exchange's policies.

An electronic or paper copy of the prospectus and any amendment may be obtained, without charge, from River Road at tim@mammothgeological.com by providing the contact with an e-mail address or address, as applicable.

For more information, please refer to the prospectus filed with the securities commissions in British Columbia, Alberta and Ontario, available on SEDAR+, under the company's profile.

About River Road Resources Ltd.

River Road is a mineral exploration company engaged in the acquisition, exploration and evaluation of resource properties, listed on the TSX Venture Exchange under the symbol RRRL. The company holds the option to earn a 100-per-cent interest, subject to a 2-per-cent net smelter return (NSR) royalty, in the Stobart property, comprising two mineral claims totalling approximately 724 hectares, located in the Clinton mining district of British Columbia.

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