Rise Gold Negotiates US$500k in Debt Financing
Rise Gold Corp. (CSE: RISE) (OTCQX: RYES) has secured a US$500,000 loan from Myrmikan Gold Fund, The loan has a 4-year term with a 15% annual interest rate. 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 for four years. The loan, secured against company 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. The transaction is subject to regulatory acceptance and relies on exemptions from formal valuation and minority shareholder approval requirements under MI 61-101.
Rise Gold Corp. (CSE: RISE) (OTCQX: RYES) ha ottenuto un prestito di 500.000 USD da Myrmikan Gold Fund. Il prestito ha un termine di 4 anni con un tasso d'interesse annuo del 15%. Come parte dell'accordo, il prestatore riceverà 2.882.514 warrant per l'acquisto di azioni, ciascuno dei quali consente l'acquisizione di un'azione della società a 0,1735 USD per quattro anni. Il prestito, garantito contro i beni della società, sarà utilizzato per il capitale circolante.
Daniel Oliver Jr., un direttore della società e membro gestore del prestatore, ha comunicato il suo interesse e si è astenuto dal votare. La transazione è soggetta ad accettazione normativa e si basa su esenzioni da valutazioni formali e requisiti di approvazione degli azionisti di minoranza ai sensi del MI 61-101.
Rise Gold Corp. (CSE: RISE) (OTCQX: RYES) ha asegurado un préstamo de 500.000 USD de Myrmikan Gold Fund. El préstamo tiene un plazo de 4 años con una tasa de interés anual del 15%. Como parte del acuerdo, el prestamista recibirá 2.882.514 garantías para la compra de acciones, cada una de las cuales permite la adquisición de una acción de la compañía a 0,1735 USD durante cuatro años. El préstamo, garantizado contra los activos de la empresa, se utilizará para capital de trabajo.
Daniel Oliver Jr., director de la empresa y miembro gestor del prestamista, divulgó su interés y se abstuvo de votar. La transacción está sujeta a la aceptación regulatoria y se basa en exenciones de la valoración formal y los requisitos de aprobación de los accionistas minoritarios bajo MI 61-101.
라이즈 골드 코프(Rise Gold Corp.) (CSE: RISE) (OTCQX: RYES)는 Myrmikan Gold Fund로부터 50만 달러의 대출을 확보했습니다. 이 대출은 4년의 기간을 가지며 15%의 연이율이 적용됩니다. 계약의 일환으로, 대출자는 2,882,514개의 주식 매입 워런트를 받게 되며, 각각은 4년 동안 0.1735 달러에 회사 주식을 인수할 수 있습니다. 이 대출은 회사 자산을 담보로 하며, 운영 자본으로 사용될 것입니다.
다니엘 올리버 주니어(Daniel Oliver Jr.)는 회사 이사이자 대출자의 관리 구성원으로서 자신의 관심을 밝혔다 그리고 투표를 기권했습니다. 이 거래는 규제 승인의 대상이 되며, MI 61-101에 따른 공식 평가 및 소수 주주 승인 요구 사항에서 면제를 기반으로 합니다.
Rise Gold Corp. (CSE: RISE) (OTCQX: RYES) a sécurisé un prêt de 500 000 USD auprès de Myrmikan Gold Fund. Le prêt a une durée de 4 ans avec un taux d'intérêt annuel de 15%. 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 pendant quatre ans. Le prêt, garanti par les actifs de l'entreprise, sera utilisé pour le fonds de roulement.
Daniel Oliver Jr., directeur de l'entreprise et membre gérant du prêteur, a déclaré son intérêt et s'est abstenu de voter. La transaction est soumise à l'acceptation réglementaire et repose sur des exemptions aux exigences d'évaluation formelle et d'approbation des actionnaires minoritaires en vertu du MI 61-101.
Rise Gold Corp. (CSE: RISE) (OTCQX: RYES) hat ein Darlehen in Höhe von 500.000 USD von Myrmikan Gold Fund gesichert. Das Darlehen hat eine Laufzeit von 4 Jahren mit einem jährlichen Zinssatz von 15%. Im Rahmen der Vereinbarung erhält der Kreditgeber 2.882.514 Aktienoptionsscheine, die es ermöglichen, eine Unternehmensaktie für 0,1735 USD über vier Jahre zu erwerben. Das Darlehen, das durch die Vermögenswerte des Unternehmens gesichert ist, wird für das Betriebskapital verwendet.
Daniel Oliver Jr., ein Direktor des Unternehmens und geschäftsführendes Mitglied des Kreditgebers, hat sein Interesse offengelegt und sich der Stimme enthalten. Die Transaktion steht unter dem Vorbehalt der regulatorischen Genehmigung und beruht auf Ausnahmen von den Anforderungen an die formelle Bewertung und die Genehmigung von Minderheitsaktionären gemäß MI 61-101.
- Secured US$500,000 in debt financing for working capital
- 4-year loan term provides extended financial flexibility
- Loan can be repaid early without penalties
- High annual interest rate of 15%
- Potential dilution from 2,882,514 share purchase warrants issued
- Loan secured against company assets, increasing financial risk
- Related party transaction may raise governance concerns
Grass Valley, California--(Newsfile Corp. - October 2, 2024) - Rise Gold Corp. (CSE: RISE) (OTCQX: RYES) (the "Company") announces that it that entered into a 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 may constitute 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/225420
FAQ
What is the amount and terms of the loan secured by Rise Gold Corp (RYES)?
How many warrants were issued by Rise Gold Corp (RYES) as part of the loan agreement?
What is the exercise price and duration of the warrants issued by Rise Gold Corp (RYES)?
How will Rise Gold Corp (RYES) use the proceeds from the US$500,000 loan?
