Rise Gold Corp. Files 8-K on Material Agreement & Equity Sales
Ticker: RYES · Form: 8-K · Filed: Oct 3, 2024 · CIK: 1424864
| Field | Detail |
|---|---|
| Company | Rise Gold Corp. (RYES) |
| Form Type | 8-K |
| Filed Date | Oct 3, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $500,000, $500,000 m, $0.1735 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, equity-sale, financial-obligation
TL;DR
Rise Gold Corp. just filed an 8-K detailing a material agreement and unregistered equity sales. Watch for potential dilution.
AI Summary
On October 2, 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. This 8-K filing details these significant financial and corporate actions.
Why It Matters
This filing indicates significant financial activity and potential dilution for shareholders due to unregistered equity sales, requiring careful investor review.
Risk Assessment
Risk Level: medium — The filing mentions unregistered sales of equity securities, which can lead to dilution and increased risk for existing shareholders.
Key Players & Entities
- Rise Gold Corp. (company) — Registrant
- October 2, 2024 (date) — Date of earliest event reported
- Nevada (jurisdiction) — State of incorporation
FAQ
What type of material definitive agreement did Rise Gold Corp. enter into?
The filing indicates the entry into a material definitive agreement but does not specify the nature of the agreement in the provided text.
What are the details of the unregistered sales of equity securities?
The filing states that unregistered sales of equity securities occurred, but specific details such as the number of shares or price are not provided in this excerpt.
What is the direct financial obligation created by the agreement?
The filing confirms the creation of a direct financial obligation but does not specify the amount or terms of this obligation.
When was Rise Gold Corp. incorporated?
Rise Gold Corp. was incorporated in Nevada.
What is the filing date of this 8-K report?
This 8-K report was filed on October 3, 2024, with the earliest event reported being October 2, 2024.
Filing Stats: 668 words · 3 min read · ~2 pages · Grade level 10.4 · Accepted 2024-10-02 21:48:11
Key Financial Figures
- $500,000 — tered into a loan agreement to borrow US$500,000 of secured debt financing (the "Loan")
- $500,000 m — of the Lender. The Loan principal of US$500,000 may be used for general working capital a
- $0.1735 — common stock at an exercise price of US$0.1735 for a period of 4 years from the date o
Filing Documents
- form8k.htm (8-K) — 15KB
- exhibit99-1.htm (EX-99.1) — 7KB
- exhibit99-1x001.jpg (GRAPHIC) — 9KB
- 0001062993-24-017346.txt ( ) — 243KB
- ryes-20241002.xsd (EX-101.SCH) — 4KB
- ryes-20241002_cal.xml (EX-101.CAL) — 1KB
- ryes-20241002_def.xml (EX-101.DEF) — 22KB
- ryes-20241002_lab.xml (EX-101.LAB) — 45KB
- ryes-20241002_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 October 2 , 2024, Rise Gold Corp. (the "Company"), through its wholly owned subsidiary Rise Grass Valley, had entered into a loan agreement to borrow US$500,000 of secured debt financing (the "Loan") from Myrmikan Capital, LLC (the "Lender"). Daniel Oliver Jr., a director of the Company, is the managing member of the Lender. The Loan principal of US$500,000 may be used for general working capital and is secured against the assets of the Company and its subsidiary. The Loan has a term of 4 years. Interest will be accrued at an annual interest rate of 15% and be paid along with the principal upon the maturity date. The Loan may be repaid prior to the maturity date, in whole or in part, provided that all accrued interest is paid. The Company has agreed to issue 2,882,514 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$0.1735 for a period of 4 years from the date of issuance 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 2,882,514 share purchase warrants to the Lender. 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 October 2, 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: October 2 , 2024 RISE GOLD CORP. /s/ Joseph Mullin Joseph Mullin President and CEO