Rise Gold Announces $4.3 Million Sale of Property
Rise Gold Corp (OTCQX: RYES) has contracted to sell 66 acres of industrial land adjacent to its Idaho-Maryland Mine Property for $4.3 million. The sale involves two agreements: 16 acres for $1.8 million (closed Nov 27) and 50 acres for $2.5 million (closing May 2025). Both agreements include 5% annual interest payments on remaining balances. The company retains a repurchase option if mining approvals are obtained. Sale proceeds will fund debt repayment and legal claims against Nevada County regarding mining rights. The company maintains ownership of 53 acres around New Brunswick shaft, 56-acre Centennial property, and 2,585 acres of mineral rights.
Rise Gold Corp (OTCQX: RYES) ha stipulato un contratto per vendere 66 acri di terreno industriale adiacente alla sua proprietà della miniera Idaho-Maryland per 4,3 milioni di dollari. La vendita comprende due accordi: 16 acri per 1,8 milioni di dollari (chiuso il 27 novembre) e 50 acri per 2,5 milioni di dollari (chiusura maggio 2025). Entrambi gli accordi prevedono pagamenti annuali di interessi del 5% sui saldi rimanenti. L'azienda mantiene un'opzione di riacquisto nel caso vengano ottenuti i permessi minerari. I proventi della vendita serviranno per il rimborso del debito e per le controversie legali contro la contea di Nevada riguardanti i diritti minerari. L'azienda conserva la proprietà di 53 acri attorno al pozzo di New Brunswick, 56 acri della proprietà Centennial e 2.585 acri di diritti minerali.
Rise Gold Corp (OTCQX: RYES) ha firmado un contrato para vender 66 acres de terreno industrial adyacente a su propiedad de la mina Idaho-Maryland por 4,3 millones de dólares. La venta implica dos acuerdos: 16 acres por 1,8 millones de dólares (cerrado el 27 de noviembre) y 50 acres por 2,5 millones de dólares (cierre en mayo de 2025). Ambos acuerdos incluyen pagos de intereses anuales del 5% sobre los saldos restantes. La empresa conserva una opción de recompra si se obtienen las aprobaciones mineras. Los ingresos de la venta se destinarán al reembolso de la deuda y a las reclamaciones legales contra el condado de Nevada sobre los derechos mineros. La empresa mantiene la propiedad de 53 acres alrededor del pozo de New Brunswick, 56 acres de la propiedad Centennial y 2,585 acres de derechos minerales.
Rise Gold Corp (OTCQX: RYES)는 아이오와-메릴랜드 광산 재산에 인접한 66에이커의 산업용 토지를 430만 달러에 판매하기로 계약했습니다. 이번 판매는 두 개의 계약으로 이루어져 있습니다: 16에이커는 180만 달러로 (11월 27일 마감) 50에이커는 250만 달러로 (2025년 5월 마감) 판매됩니다. 두 계약 모두 남은 잔액에 대해 연 5%의 이자 지급을 포함합니다. 이 회사는 광산 허가가 취득되면 재매입 옵션을 유지합니다. 판매 수익은 부채 상환 및 네바다 카운티에 대한 광산 권리에 대한 법적 청구를 위한 자금으로 사용될 것입니다. 이 회사는 뉴브런스윅 샤프트 주변의 53에이커, 56에이커의 센테니얼 재산, 2,585에이커의 광물권 소유권을 유지하고 있습니다.
Rise Gold Corp (OTCQX: RYES) a signé un contrat pour vendre 66 acres de terrain industriel adjacent à sa propriété de mine d'Idaho-Maryland pour 4,3 millions de dollars. La vente implique deux accords : 16 acres pour 1,8 million de dollars (fermé le 27 novembre) et 50 acres pour 2,5 millions de dollars (clôture en mai 2025). Les deux accords incluent des paiements d'intérêts annuels de 5% sur les soldes restants. La société conserve une option de rachat si les autorisations minières sont obtenues. Le produit de la vente servira à rembourser des dettes et à faire face aux réclamations légales contre le comté du Nevada concernant les droits miniers. La société conserve la propriété de 53 acres autour du puits de New Brunswick, 56 acres de la propriété Centennial, et 2 585 acres de droits miniers.
Rise Gold Corp (OTCQX: RYES) hat einen Vertrag über den Verkauf von 66 Morgen Industriegrundstücken neben seinem Idaho-Maryland-Minenbesitz für 4,3 Millionen Dollar abgeschlossen. Der Verkauf umfasst zwei Vereinbarungen: 16 Morgen für 1,8 Millionen Dollar (geschlossen am 27. November) und 50 Morgen für 2,5 Millionen Dollar (Schlussverkauf im Mai 2025). Beide Vereinbarungen beinhalten jährliche Zinszahlungen von 5% auf die verbleibenden Salden. Das Unternehmen behält sich eine Rückkaufsoption vor, falls die Bergbaugenehmigungen erteilt werden. Die Erlöse aus dem Verkauf dienen der Rückzahlung von Schulden und rechtlichen Ansprüchen gegen den Nevada County bezüglich der Bergbaurechte. Das Unternehmen behält das Eigentum an 53 Morgen rund um den New Brunswick-Schacht, 56 Morgen des Centennial-Grundstücks und 2.585 Morgen an Mineralrechten.
- Secured $4.3 million from property sale to improve cash position
- Maintains repurchase option if mining approvals are obtained
- Structured payment terms include 5% annual interest income
- Retains core mining assets and mineral rights
- Selling assets to fund legal battle indicates financial pressure
- Risk of complete mineral estate value loss if legal action fails
- Delayed full payment receipt extends to 2026-2027
Grass Valley, California--(Newsfile Corp. - November 27, 2024) - Rise Gold Corp. (CSE: RISE) (OTCQX: RYES) (the "Company") announces it has contracted to sell 66 acres of industrial land located adjacent to the Company's Idaho-Maryland Mine Property (the "I-M Mine Property") for
The sale transaction is subject to two sale agreements with the same, arm's length third party. The first agreement covers 16 acres of land for total consideration of
The second sale agreement covers 50 acres of land for total sale price of
Rise and the purchaser have also executed an option agreement whereby the Company may repurchase the 66 acres of land being sold for the sale price plus the cost of any capital improvements plus an increase of five percent per year on the condition that Rise acquires final government approvals to perform mining operations at the I-M Mine Property.
The Company retains ownership of the I-M Mine Property, which is comprised of 53 acres of land surrounding the New Brunswick shaft, as well as its nearby 56-acre Centennial property, and it retains all of its 2,585 acres of mineral rights.
The Company will use the sale proceeds to repay debt and to fund its legal claims against Nevada County (the "County"). As previously disclosed in its press release dated May 13, 2024, the Company has submitted a Writ of Mandamus (the "Writ") to the Superior Court of California for the County of Nevada (the "Court") asking the Court to compel the Board of Supervisors of Nevada County to follow applicable law and grant Rise recognition of its constitutionally-protected, grandfathered vested right to operate the Mine.
Rise's litigation attorneys at Cooper & Kirk have advised the Company that should the Writ be unsuccessful, Rise's mineral estate will lose all value, which will allow Rise to bring a takings action in federal court against the County under the Fifth Amendment of the U.S. Constitution. The remedy for an unconstitutional taking is the payment of just compensation, which is the fair market value of the property taken. Based on comparable mines and historic yields at the I-M Mine, management believes the fair market value of Rise's mineral estate is at least
About Rise Gold Corp.
Rise Gold is an exploration-stage mining company incorporated in Nevada, USA. The Company's principal asset is the historic past-producing Idaho-Maryland Gold Mine located in Nevada County, California, USA.
On behalf of the Board of Directors:
Joseph Mullin
President, CEO and Director
Rise Gold Corp.
For further information, please contact:
RISE GOLD CORP.
345 Crown Point Circle, Suite 600
Grass Valley, California, USA 95945
T: 530.433.0188
info@risegoldcorp.com
www.risegoldcorp.com
The CSE has not reviewed, approved or disapproved the contents of this news release.
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words or statements that certain events or conditions "may" or "will" occur.
Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks, uncertainties and assumptions related to certain factors including, without limitation, obtaining all necessary approvals, meeting expenditure and financing requirements, compliance with environmental regulations, title matters, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with vendors and strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices, and one-time events that may cause actual results, performance or developments to differ materially from those contained in the forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements and information contained in this release. Rise undertakes no obligation to update forward-looking statements or information except as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/231712
FAQ
How much is Rise Gold (RYES) selling its industrial land for?
What will Rise Gold (RYES) use the property sale proceeds for?
What happens if Rise Gold (RYES) loses its legal case against Nevada County?
What is the estimated value of Rise Gold's (RYES) mineral estate?
