Rise Gold Corp. Files 8-K on Agreements and Equity Sales
Ticker: RYES · Form: 8-K · Filed: Sep 11, 2024 · CIK: 1424864
| Field | Detail |
|---|---|
| Company | Rise Gold Corp. (RYES) |
| Form Type | 8-K |
| Filed Date | Sep 11, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $1 million, $0.115 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, financial-obligation, equity-sale
TL;DR
Rise Gold Corp. filed an 8-K detailing new agreements, financial obligations, and equity sales.
AI Summary
Rise Gold Corp. filed an 8-K on September 11, 2024, reporting on several key events. These include entering into a material definitive agreement, creating a direct financial obligation, and the unregistered sale of equity securities. The company, formerly known as Rise Resources Inc., is incorporated in Nevada and operates in the metal mining sector.
Why It Matters
This filing indicates significant corporate actions, including new financial obligations and equity transactions, which could impact the company's financial structure and shareholder base.
Risk Assessment
Risk Level: medium — The filing mentions unregistered sales of equity securities and new financial obligations, which can introduce financial and regulatory risks.
Key Numbers
- 000-53848 — SEC File Number (Identifies the company's filing history with the SEC.)
- 30-0692325 — IRS Number (Company's Employer Identification Number.)
Key Players & Entities
- Rise Gold Corp. (company) — Registrant
- Rise Resources Inc. (company) — Former company name
- Patriot Minefinders Inc. (company) — Former company name
- Atlantic Resources Inc. (company) — Former company name
- Nevada (jurisdiction) — State of incorporation
- September 11, 2024 (date) — Date of report
FAQ
What is the nature of the material definitive agreement entered into by Rise Gold Corp.?
The filing does not specify the details of the material definitive agreement, only that one was entered into.
What type of financial obligation was created by Rise Gold Corp.?
The filing indicates the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement, but does not provide specific details.
What were the terms of the unregistered sales of equity securities?
The filing mentions unregistered sales of equity securities but does not provide specific details regarding the terms, number of shares, or price.
When was Rise Gold Corp. incorporated in Nevada?
The filing states the company is incorporated in Nevada but does not provide the specific incorporation date.
What is the primary business of Rise Gold Corp.?
Rise Gold Corp. operates in the METAL MINING sector, as indicated by its Standard Industrial Classification code.
Filing Stats: 694 words · 3 min read · ~2 pages · Grade level 10.8 · Accepted 2024-09-11 16:51:30
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) — 15KB
- exhibit99-1.htm (EX-99.1) — 6KB
- exhibit99-1x001.jpg (GRAPHIC) — 9KB
- 0001062993-24-016487.txt ( ) — 242KB
- ryes-20240911.xsd (EX-101.SCH) — 4KB
- ryes-20240911_cal.xml (EX-101.CAL) — 1KB
- ryes-20240911_def.xml (EX-101.DEF) — 22KB
- ryes-20240911_lab.xml (EX-101.LAB) — 45KB
- ryes-20240911_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" or "Eridanus"). On August 30, 2024, the Company announced an amendment to the loan agreement with the Lender. The Lender has agreed to extend the maturity date of the loan by one year to September 4, 2025, and the interest rate has been reduced to 15% for a period of 12 months commencing September 4, 2024. The Company has agreed to issue 1,700,000 share purchase warrants ("Warrants") to the Lender, 340,000 of which Eridanus has directed be issued to Daniel Oliver, Jr., a member of Eridanus, and a director of the Company. 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, 340,000 of which Eridanus has directed be issued to Daniel Oliver, Jr., a member of Eridanus, and a director of the Company. 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 September 10, 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 11, 2024 RISE GOLD CORP. /s/ Joseph Mullin Joseph Mullin President and CEO