Rise Gold Closes US$500k in Debt Financing
Rise Gold Corp. (CSE: RISE) (OTCQX: RYES) has finalized a US$500,000 secured loan agreement with Myrmikan Gold Fund, The loan has a 4-year term with a 15% annual interest rate, payable along with the principal upon maturity. As part of the agreement, the lender will receive 2,882,514 share purchase warrants, each allowing the acquisition of one company share at US$0.1735 within four years of issuance.
The loan, secured against the company's and its subsidiary's assets, will be used for working capital. Daniel Oliver Jr., a company director and managing member of the lender, disclosed his interest and abstained from voting on the loan approval. The transaction is exempt from certain formal valuation and minority shareholder approval requirements under MI 61-101.
Rise Gold Corp. (CSE: RISE) (OTCQX: RYES) ha definitivamente concluso un accordo di prestito garantito di 500.000 USD con Myrmikan Gold Fund. Il prestito ha un termine di 4 anni con un tasso di interesse annuo del 15%, pago insieme al capitale al momento della scadenza. Come parte dell'accordo, il prestatore riceverà 2.882.514 warrant di acquisto azionario, ciascuno dei quali consente l'acquisizione di una azione della società a 0,1735 USD entro quattro anni dall'emissione.
Il prestito, garantito contro gli attivi della società e delle sue controllate, sarà utilizzato per il capitale circolante. Daniel Oliver Jr., un direttore della società e membro amministratore del prestatore, ha dichiarato il proprio interesse e si è astenuto dal votare per l'approvazione del prestito. La transazione è esente da alcuni requisiti di valutazione formale e approvazione da parte degli azionisti di minoranza sotto MI 61-101.
Rise Gold Corp. (CSE: RISE) (OTCQX: RYES) ha finalizado un acuerdo de préstamo garantizado de 500,000 USD con Myrmikan Gold Fund. El préstamo tiene un plazo de 4 años con una tasa de interés anual del 15%, pagadero junto con el capital al vencimiento. Como parte del acuerdo, el prestamista recibirá 2,882,514 opciones de compra de acciones, cada una permitiendo la adquisición de una acción de la compañía a 0.1735 USD dentro de cuatro años a partir de la emisión.
El préstamo, garantizado contra los activos de la empresa y su filial, se utilizará para capital de trabajo. Daniel Oliver Jr., un director de la empresa y miembro gerente del prestamista, reveló su interés y se abstuvo de votar sobre la aprobación del préstamo. La transacción está exenta de ciertos requisitos de valoración formal y aprobación de accionistas minoritarios bajo MI 61-101.
Rise Gold Corp. (CSE: RISE) (OTCQX: RYES)는 50만 달러의 담보 대출 계약을 체결했습니다 Myrmikan Gold Fund와 함께. 이 대출은 4년 기간에 연 15% 이자율을 가지고 있으며, 만기시 원금과 함께 상환해야 합니다. 계약의 일환으로 대출자는 2,882,514 주식 매수 보증서를 받게 되며, 각 보증서는 4년 이내에 0.1735 USD에 회사의 1주를 취득할 수 있는 권한을 제공합니다.
회사의 자산과 자회사의 자산에 담보된 이 대출은 운영 자본에 사용될 예정입니다. 다니엘 올리버 주니어는 회사 이사이자 대출자의 관리 구성원이므로 자신의 이해관계를 밝혔고 대출 승인 투표에서 기권했습니다. 이 거래는 MI 61-101에 따라 일부 공식 평가 및 소수 주주 승인 요구 사항에서 면제됩니다.
Rise Gold Corp. (CSE: RISE) (OTCQX: RYES) a finalisé un accord de prêt garanti de 500 000 USD avec Myrmikan Gold Fund. Le prêt a une durée de 4 ans avec un taux d'intérêt annuel de 15%, payable avec le capital à l'échéance. Dans le cadre de l'accord, le prêteur recevra 2 882 514 bons de souscription d'actions, chacun permettant l'acquisition d'une action de la société à 0,1735 USD dans les quatre ans suivant l'émission.
Le prêt, garanti par les actifs de la société et de ses filiales, sera utilisé pour le fonds de roulement. Daniel Oliver Jr., directeur de la société et membre gestionnaire du prêteur, a déclaré son intérêt et s'est abstenu de voter sur l'approbation du prêt. La transaction est exemptée de certaines exigences d'évaluation formelle et d'approbation des actionnaires minoritaires conformément à la MI 61-101.
Rise Gold Corp. (CSE: RISE) (OTCQX: RYES) hat einen gesicherten Kreditvertrag über 500.000 USD abgeschlossen mit Myrmikan Gold Fund. Der Kredit hat eine Laufzeit von 4 Jahren mit einem jährlichen Zinssatz von 15%, zahlbar zusammen mit dem Kapital bei Fälligkeit. Im Rahmen der Vereinbarung erhält der Kreditgeber 2.882.514 Kaufwarrants für Aktien, die den Erwerb einer Unternehmensaktie zu 0,1735 USD innerhalb von vier Jahren nach Ausstellung ermöglichen.
Der Kredit, der gegen die Vermögenswerte des Unternehmens und seiner Tochtergesellschaften gesichert ist, wird für Betriebskapital verwendet. Daniel Oliver Jr., ein Direktor des Unternehmens und geschäftsführendes Mitglied des Kreditgebers, hat sein Interesse bekannt gegeben und sich bei der Abstimmung über die Kreditgenehmigung enthalten. Die Transaktion ist von bestimmten formalen Bewertungs- und Genehmigungsanforderungen für Minderheitsaktionäre gemäß MI 61-101 befreit.
- Secured US$500,000 in debt financing for working capital
- 4-year loan term provides extended financial flexibility
- Loan can be repaid early, in whole or in part, offering repayment flexibility
- High annual interest rate of 15% on the loan
- Potential dilution for existing shareholders due to issuance of 2,882,514 warrants
- Loan secured against company and subsidiary assets, increasing financial risk
Grass Valley, California--(Newsfile Corp. - October 10, 2024) - Rise Gold Corp. (CSE: RISE) (OTCQX: RYES) (the "Company") announces that it has finalized the secured loan agreement with Myrmikan Gold Fund, LLC (the "Lender") for a US
To the extent that the participation of Mr. Oliver in the transaction constitutes a "related party transaction" under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"), the Company is relying on exemptions from the formal valuation requirements of section 5.4 of MI 61-101 and minority shareholder approval requirements of section 5.6 of MI 61-101. As the fair market value of the related party's participation is not more than
The securities described in this news release have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold absent registration or compliance with an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.
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 and CEO
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/226347
FAQ
What is the amount and terms of the loan secured by Rise Gold Corp (RYES)?
How many warrants were issued as part of the loan agreement for Rise Gold Corp (RYES)?
What is the exercise price and expiration of the warrants issued by Rise Gold Corp (RYES)?
How will Rise Gold Corp (RYES) use the proceeds from the US$500,000 loan?
