- Approximately 10 Million Total Shares Shorted in US Since March 2019
- Approximately 35 Million Total Shares Shorted in Canada Since March 2019
VANCOUVER, British Columbia, April 30, 2020 (GLOBE NEWSWIRE) -- Rio2 Limited (“Rio2” or the “Company”) (TSXV: RIO; OTCQX: RIOFF; BVL: RIO) today announces that it has retained BUYINS.NET, http://www.buyins.net, a leading provider of Regulation SHO compliance monitoring, short sale trading statistics and market integrity surveillance. BUYINS has initiated coverage on Rio2 after releasing the latest short sale data through April 27, 2020. The total aggregate number of shares shorted in the US since March 2019 is approximately 10 million shares. On average approximately 55% of daily trading volume is short selling. The SqueezeTrigger price for all RIOFF shares shorted is $0.31. A short squeeze has begun in the US as shares of RIOFF have exceeded this level. In Canada, (TSXV: RIO) has a C$0.42 Trigger Price. A short squeeze is underway in Canada as well.
View Report: http://www.buyins.io/reports/rioff4-28-20.pdf
View US SqueezeTrigger: http://www.buyins.io/images/rioffstr4-28-20.JPG
View Canada SqueezeTrigger: http://www.buyins.io/images/riostr4-28-20.JPG
View Friction Factor: http://www.buyins.io/images/rioffff4-28-20.JPG
View detailed explanation: http://www.buyins.com/brochure.pdf
Friction Factor calculates if a fair market is being made in the shares of RIOFF. 63% of the previous 35 trading days have been positive or bullish-biased and 37% have been negative or bearish-biased.
Regulation SHO requires bona-fide market-making activities to include making purchases and sales in roughly comparable amounts. The Commission has stated that bona-fide market-making DOES NOT include activity that is related to speculative selling strategies for investment purposes of the broker-dealer and is disproportionate to the usual market making patterns or practices of the broker-dealer in that security. Likewise, where a market-maker posts continually at or near the best offer but does not also post at or near the best bid, the market-maker's activities would not generally qualify as bona-fide market-making. Moreover, a market-maker that continually executes short sales away from its posted quotes would generally not be engaging in bona-fide market-making.
BUYINS.NET monitors RIOFF market-makers daily for compliance with Fair Market-Making Requirements.
ABOUT RIO2 LIMITED
Rio2 is a mining company with a focus on development and mining operations with a team that has proven technical skills as well as a successful capital markets track record. Rio2 is focused on taking its Fenix Gold Project in Chile to production in the shortest possible timeframe based on a staged development strategy. In addition to the Fenix Gold Project in development in Chile, Rio2 Limited continues to pursue additional strategic acquisitions where it can deploy its operational excellence and responsible mining practices to build a multi-asset, multi-jurisdiction, precious metals company focused in the Americas.
ABOUT BUYINS.NET
BUYINS.NET, http://www.buyins.net, monitors trading in all US stocks in real time and maintains massive databases of short sale and naked short sale time and sales data, short squeeze SqueezeTrigger prices, market-maker price movements, shareholder data, statistical data on earnings, sector correlation, seasonality, hedge fund trading strategies and comparable valuations.
BUYINS.NET is not a registered investment adviser and nothing contained in any materials should be construed as a recommendation to buy or sell any securities. Rio2 Limited has paid $2,500 per month for twelve months of data provided in this news release and reports to be subsequently prepared, along with advertising services. Please read the Buyins’ report and visit its web site, http://www.buyins.net, for complete risks and disclosures.
Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively “forward-looking information”) within the meaning of applicable securities laws relating to Rio2. All statements included herein, other than statements of historical fact, may be forward-looking information and such information involves various risks and uncertainties. Forward-looking information is often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe”, and similar expressions. The forward-looking information is based on certain key expectations and assumptions made by Rio2’s management. Rio2 believes the expectations reflected in these forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements in this news release should not be unduly relied upon. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in Rio2's disclosure documents on the SEDAR website at www.sedar.com. Forward-looking statements included in this news release are made as of the date of this news release and such information should not be relied upon as representing its views as of any date subsequent to the date of this news release. Rio2 has attempted to identify important factors that could cause actual results, performance or achievements to vary from those current expectations or estimates expressed or implied by the forward-looking information. However, there may be other factors that cause results, performance or achievements not to be as expected or estimated and that could cause actual results, performance or achievements to differ materially from current expectations. Rio2 disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
To learn more about Rio2 Limited, please visit: www.rio2.com or Rio2's SEDAR profile at www.sedar.com.
ON BEHALF OF THE BOARD OF RIO2 LIMITED
Alex Black
President, CEO & Director
Email: info@rio2.com
Tel: 1 (604) 260-2696
Contact:
BUYINS.NET
Thomas Ronk
800-715-9999
tom@buyins.net
http://www.buyins.net
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts the responsibility for the adequacy or accuracy of this release.