The Prospector News

Rise Gold Closes US$3.3 Million Financing

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Rise Gold Closes US$3.3 Million Financing

 

 

 

 

 

Rise Gold Corp. (CSE: RISE) OTCQX: RYES) announces that it has completed the non-brokered private placement announced in its July 22, 2020 news release. The Corporation raised a total of US$3,272,875 through the issuance of 4,363,833 units at a price of US$0.75 per Unit (CDN$1.02 per Unit), with each Unit comprising one share of common stock and one-half of one share purchase warrant. Each whole warrant entitles the holder to acquire one Share at an exercise price of US$1.00 until July 31, 2022. The Corporation paid a total of US$32,576 in finder’s fees and issued a total of 43,435 finder’s warrants, where each finder’s warrant entitles the holder to acquire one Share at a price of US$1.00 until July 31, 2022.

 

Benjamin W. Mossman, a director and the CEO of the Corporation, acquired 40,000 Units and Lawrence W. Lepard, a director of the Corporation, acquired 133,333 Units through EMA Garp Fund, L.P., which constitutes “related party transactions” under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions. The related party transactions are exempt from the formal valuation requirements of Section 5.4 of MI 61-101 pursuant to subsection 5.5(a) of MI 61-101, and exempt from the minority approval requirements of Section 5.6 of MI 61-101 pursuant to subsection 5.7(1)(a) of MI 61-101, as the fair market value of the transactions do not exceed 25% of the Corporation’s market capitalization. A material change report as contemplated by the related party transaction requirements under MI 61-101 was not filed more than 21 days prior to the closing as Mr. Mossman’s and Mr. Lepard’s participation was only recently determined.

 

All securities issued pursuant to the Offering are subject to statutory hold periods in accordance with applicable United States and Canadian securities laws.

 

The securities offered 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.

 

The Corporation is an exploration-stage mining company incorporated in Nevada, USA. The Corporation’s principal asset is the historic past-producing Idaho-Maryland Gold Mine located in Nevada County, California, USA. The Idaho-Maryland Gold Mine produced 2,414,000 oz of gold at an average mill head grade of 17 gpt gold from 1866-1955. Historic production at the Idaho-Maryland Mine is disclosed in the Technical Report on the Idaho-Maryland Project dated June 1st, 2017 and available on www.sedar.com.

 

Posted August 3, 2020

Share this news article

MORE or "UNCATEGORIZED"


Orea Announces Closing of Oversubscribed Non-Brokered Private Placement

Orea Mining Corp. (TSX: OREA) (OTCQB: OREAF) (FSE: 3CG) is please... READ MORE

January 26, 2023

CANADA SILVER COBALT RELEASES SILVER ASSAY OF 29,165 g/t (850 oz/ton) FROM CONCENTRATE OF CASTLE MINE WASTE ROCK

Canada Silver Cobalt Works Inc. (TSX-V: CCW) (OTC: CCWOF) (Frankf... READ MORE

January 26, 2023

Guanajuato Silver Produces Record 836,375 AgEq Ounces in Q4

Sees 19% Q4 Production Increase Over Q3   Guanajuato Silver Comp... READ MORE

January 26, 2023

Argentina Lithium Drilling Extends Lithium Brine Zone at Rincon West

Argentina Lithium & Energy Corp. (TSX-V: LIT) (FSE: OAY3) (O... READ MORE

January 26, 2023

NEVADA KING ANNOUNCES SIGNIFICANT SILVER INTERCEPTS FROM ITS 2021 ATLANTA DRILL PROGRAM

Nevada King Gold Corp. (TSX-V: NKG) (OTCQX: NKGFF) is pleased t... READ MORE

January 26, 2023

We acknowledge the [financial] support of the Government of Canada.

Government of Canada Supported
Copyright 2023 The Prospector News