Rio Verde Industries Inc. Announces Revocation of Cease Trade Orders

Toronto, Ontario--(Newsfile Corp. - July 19, 2021) - Rio Verde Industries Inc. ("Rio Verde" or the "Company") is pleased to announce that on July 16, 2021 (the "Effective Date"), the British Columbia Securities Commission and the Alberta Securities Commission (together, the "Securities Regulators") have issued orders revoking their cease trade orders, originally issued in respect of the securities of the Company on, respectively September 25, 2002 and October 25, 2002.

On July 8, 2021 and July 12, 2021, the Company filed (i) its audited annual financial statements, annual management's discussion and analysis, and related certifications for the year ended April 30, 2020, (ii) its unaudited interim financial statements for the period ended July 31, 2020, October 31, 2020 and January 31, 2021 (iii) Form 52-110F2 - Disclosure by Venture Issuers, (iv) Form 58-101F2 - Corporate Governance Disclosure (Venture Issuers), and (v) Form 51-102F6V - Statement of Executive Compensation - Venture Issuers (collectively, the "Continuous Disclosure Documents"). The Continuous Disclosure Documents are available for review online under the Company's profile on SEDAR (www.sedar.com). Following the filing of the Continuous Disclosure Documents, the Company is up-to-date with its continuous disclosure obligations.

In connection with the Company's applications for the revocation of the cease trade orders, the Company held an annual general meeting for shareholders of the Company on July 2, 2021. The Company has met all other conditions required by the securities commissions for revocation of the cease trade orders.

About Rio Verde Industries Inc.

The Company is a mineral exploration company with no current activities or operations. The Company has ceased to carry on an active business and is presently engaged in identifying and evaluating suitable assets or businesses to acquire or merge with, with a view to maximizing value for shareholders.

On behalf of the Board of Directors

Binyomin Posen
Chief Executive Officer, Chief Financial Officer & Director
T: 416 481 2222
E: bposen@plazacapital.ca

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