Riverside Announces Spin-Out of Peñoles Project

riverside announces spin out of peñoles project_dgo

Vancouver, British Columbia–(Newsfile Corp. – February 25, 2020) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: R99) (“Riverside” or the “Company”), is pleased to announce that its board of directors has unanimously
approved a spin-out of the Peñoles Project, located in Durango, Mexico, to its shareholders by way of a share capital reorganization effected through a statutory plan of arrangement (the “Arrangement”). The Peñoles Project is held through
Riverside’s wholly-owned subsidiary, Capitan Mining Inc. (“Capitan”). Under the Arrangement, Riverside will distribute the common shares (each, a “Capitan Share”) of Capitan to Riverside’s shareholders. Once the Arrangement becomes effective,
Riverside shareholders will own shares in two public companies: Capitan, which will focus on the development of the Peñoles Project, and Riverside, which will continue to generate prospective mineral properties.

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