Rise Gold Corp. Files 8-K: Material Agreement & Equity Sales
Ticker: RYES · Form: 8-K · Filed: Sep 4, 2024 · CIK: 1424864
| Field | Detail |
|---|---|
| Company | Rise Gold Corp. (RYES) |
| Form Type | 8-K |
| Filed Date | Sep 4, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $1 million, $0.115 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, equity-sale, financial-obligation
TL;DR
Rise Gold Corp. signed a big deal and sold some stock, filing an 8-K on Aug 30.
AI Summary
On August 30, 2024, Rise Gold Corp. entered into a material definitive agreement, creating a direct financial obligation. The company also reported on unregistered sales of equity securities and filed financial statements and exhibits. Specific details regarding the agreement and financial obligations are not provided in this summary.
Why It Matters
This filing indicates significant corporate activity, including a new material agreement and equity transactions, which could impact the company's financial structure and future operations.
Risk Assessment
Risk Level: medium — The filing mentions a material definitive agreement and financial obligations, which inherently carry financial risks, alongside unregistered sales of equity securities.
Key Players & Entities
- Rise Gold Corp. (company) — Registrant
- August 30, 2024 (date) — Date of earliest event reported
- Nevada (jurisdiction) — State of incorporation
- 000-53848 (identifier) — SEC File Number
- 30-0692325 (identifier) — IRS Number
FAQ
What is the nature of the material definitive agreement entered into by Rise Gold Corp. on August 30, 2024?
The filing states that Rise Gold Corp. entered into a material definitive agreement on August 30, 2024, but the specific details of this agreement are not elaborated upon in the provided text.
What type of financial obligation was created by Rise Gold Corp.?
Rise Gold Corp. created a direct financial obligation or an obligation under an off-balance sheet arrangement, as reported in the 8-K filing.
What information is provided regarding unregistered sales of equity securities?
The filing indicates that there were unregistered sales of equity securities by Rise Gold Corp., but the specifics of these sales are not detailed in the provided summary.
When was the 8-K report filed and what is the earliest event date reported?
The 8-K report was filed on September 4, 2024, and the earliest event reported is dated August 30, 2024.
What are the former names of Rise Gold Corp. and when did these name changes occur?
Rise Gold Corp. was formerly known as Rise Resources Inc. (name change on January 15, 2015), Patriot Minefinders Inc. (name change on April 17, 2012), and Atlantic Resources Inc. (name change on January 24, 2008).
Filing Stats: 629 words · 3 min read · ~2 pages · Grade level 10.6 · Accepted 2024-09-04 15:18:32
Key Financial Figures
- $1 million — tered into a loan agreement to borrow US$1 million of secured debt financing from Eridanus
- $0.115 — common stock at an exercise price of US$0.115 for a period of four years from the dat
Filing Documents
- form8k.htm (8-K) — 14KB
- exhibit99-1.htm (EX-99.1) — 7KB
- exhibit99-1x001.jpg (GRAPHIC) — 9KB
- 0001062993-24-016079.txt ( ) — 242KB
- ryes-20240830.xsd (EX-101.SCH) — 4KB
- ryes-20240830_cal.xml (EX-101.CAL) — 1KB
- ryes-20240830_def.xml (EX-101.DEF) — 22KB
- ryes-20240830_lab.xml (EX-101.LAB) — 45KB
- ryes-20240830_pre.xml (EX-101.PRE) — 24KB
- form8k_htm.xml (XML) — 3KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement As announced on September 3, 2019, Rise Gold Corp. (the "Company"), through its wholly owned subsidiary Rise Grass Valley, had entered into a loan agreement to borrow US$1 million of secured debt financing from Eridanus Capital, LLC (the "Lender"). Eridanus has agreed to extend the maturity date of the loan by one year to September 4, 2025, and reduce the interest rate from 25% to 15% for a period of 12 months after closing. The Company has agreed to issue 1,700,000 share purchase warrants ("Warrants") to the Lender. Each Warrant entitles the holder to acquire one share of common stock at an exercise price of US$0.115 for a period of four years from the date of issuance. The original terms of the loan were disclosed in a current report on Form 8-K filed by the Company on September 4, 2019. Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant The disclosure provided under Item 1.01 above is incorporated by reference in this Item 2.03.
02 Unregistered Sales of Securities
Item 3.02 Unregistered Sales of Securities As consideration for extending the Loan described above under Item 1.01, the Company agreed to issue 1,700,000 Warrants to Eridanus. The disclosure provided under Item 1.01 above is incorporated by reference in this Item 3.02. The Company will issue the Warrants and offer the underlying shares of common stock to the Lender in a private transaction in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits Exhibit No. Description 99.1 Press release dated August 30, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: September 4, 2024 RISE GOLD CORP. /s/ Joseph Mullin Joseph Mullin President and CEO