New Issue: Rio Alto Mining sells C$7.57 million of stock through private placement

By Devika Patel

Knoxville, Tenn., May 20 - Rio Alto Mining Ltd. said it raised C$7.57 million in the first tranche of a private placement of stock.

The company sold 10,097,162 common shares at C$0.75 per share.

Proceeds will be used for the development of the La Arena Gold Oxide Project and general corporate purposes.

Rio Alto is a mining company in Vancouver, B.C.

Issuer:	Rio Alto Mining Ltd.
Issue:	Common shares
Amount:	C$7,572,872
Shares:	10,097,162
Price:	C$0.75
Warrants:	No
Settlement date:	May 20
Stock symbol:	TSX Venture: RIO
Stock price:	C$0.78 at close May 19
Market capitalization:	C$69.8 million

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