Rise Gold Corp. (RYES): debt financing — Rise Gold renegotiates debt: maturity extended to 2024, rate cut to 15%, pays $250k, issues 575k warrants

Rise Gold Corp.

Extended loan maturity one year to Sept 4, 2024; interest rate reduced from 25% to 15% for 12 months.
Paid US$250,000 to reduce outstanding principal balance.
Issued 575,000 warrants exercisable at US$0.60 per share for two years to lender Eridanus Capital.
Warrants issued under Section 4(a)(2) exemption; subject to statutory hold periods.
Overall debt restructuring improves near-term liquidity and reduces interest cost.

item 1.01 item 2.03 item 3.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Rise Gold Corp. amended loan with Eridanus Capital, LLC at 15% maturing September 4, 2024.

Instrument: loan
Counterparty: Eridanus Capital, LLC
Rate: 15%
Maturity: September 4, 2024
Event: amendment

Exact text from the filing

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, 2024, and reduce the interest rate from 25% to 15% for a period of 12 months after closing. The Company has agreed to pay US$250,000 to Eridanus to reduce the outstanding amount payable on the loan and to issue 575,000 share purchase warrants ("Warrants") to the Lender.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Rise Gold Corp. amended a credit facility with Eridanus Capital, LLC valued at US$250,000 (effective 2024-09-04).

Action: amendment
Agreement: credit facility
Counterparty: Eridanus Capital, LLC
Value: US$250,000
Effective: 2024-09-04

Exact text from the filing

Eridanus has agreed to extend the maturity date of the loan by one year to September 4, 2024, and reduce the interest rate from 25% to 15% for a period of 12 months after closing. The Company has agreed to pay US$250,000 to Eridanus to reduce the outstanding amount payable on the loan and to issue 575,000 share purchase warrants ("Warrants") to the Lender.

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225 debt financings filed in the last 30 days. Browse all debt financings →

Rise Gold Corp. filing history →

Source: SEC EDGAR

accession 0001062993-23-001562

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