debt
confidence high
sentiment neutral
materiality 0.55
Rise Gold closes US$500k secured debt financing with Myrmikan Gold Fund
Rise Gold Corp.
- $500k loan at 15% annual interest, 4-year term, secured against company assets.
- Lender issued 2,882,514 warrants exercisable at $0.1735/share for 4 years.
- Lender is Myrmikan Gold Fund, managed by director Daniel Oliver Jr. (related-party transaction).
- Proceeds used for working capital; warrants are additional consideration.
- Loan may be prepaid with accrued interest; no prepayment penalty specified.