Effective August 14, 2020, Riverside Resources Inc. (“Riverside”) (TSXV:RRI) completed the spin-out of the shares of its wholly-owned subsidiary Capitan Mining Inc. (“Capitan”) (TSXV:CAPT) to the Riverside shareholders. The spin-out was completed as a statutory plan of arrangement pursuant to the Business Corporations Act (British Columbia). The arrangement required both shareholder and court approval. Subsequent to completing the spin-out, Capitan completed a private placement for proceeds of approximately $3.8 million, and a listing of its shares on the TSXV.

Riverside is a mineral exploration project generator company with a primary focus on Mexico. For further details regarding Riverside, see www.rivres.com.  For further details regarding Capitan, see www.capitanmining.com.