Rise Gold Announces One-for-Ten Reverse Split (Consolidation) of its Shares of Common Stock
.
Rise Gold Announces One-for-Ten Reverse Split (Consolidation) of its Shares
of Common Stock
November 25, 2019 – Vancouver, British Columbia – Rise Gold Corp. (CSE: RISE, OTCQB:
RYES) (the “Company”) announces that its Board of Directors has approved a 1 -for-10 reverse
split (consolidation) of the Company’s authorized and issued shares of common stock with a par
value of US$0.001 per share . It is proposed that the reverse split will be effective as of the
market open on or about December 16, 2019 on the Canadian Securities Exchange (the “CSE”)
and the OTCQB. No financings are contemplated in conjunction with the consolidation.
The Company recently achieved a major milestone on the Idaho-Maryland Gold Project with the
submission of a Use Permit application to Nevada County to re-open the Idaho-Maryland Mine.
https://www.risegoldcorp.com/uploads/content/Nov21RiseGoldSubmitsPermitApplicationtoReo
penIdahoMarylandGoldMine.pdf
With the permitting process underway, the Company intends to increase its efforts towards
market awareness and believes that the consolidation may lead to greater investor interest on US
and Canadian stock markets.
The reverse split will result in each outstanding ten pre -split shares of common stock
automatically combining into one new share of common stock without any action on the part of
shareholders. The total number of outstanding shares of common stock will be reduced from
approximately 220 .5 million to approximately 22 million shares. The Company’s authorized
number of shares of common stock will also be proportionately decreased from 400 million to 40
million shares, each as a result of the reverse split and pursuant to Nevada Resided Statu tes
(NRS Section 78.207). No fractional shares will be issued as a result of the reverse split as any
fractional shares resulting from the reverse split will be rounded up to the n earest whole share on
a “per shareholder” basis.
The Board of Directors of the Company approved the action in accordance with Nevada law
(NRS Section 78.207). No additional Company or shareholder approval is required because both
the number of au thorized shares of common stock and the number of outstanding shares of
common stock will be proportionally reduced as a result of the reverse split, the reverse split will
not adversely affect any other clas s of stock of the Company , and the Company will not pay
- 2 -
money or issue scrip to shareholders w ho would other wise be entitled to receive a fractional
share as a result of the reverse split.
All issued incentive stock options granted by the Company and share purchase warrants issued
by the Company outstanding immediately prior to the reverse split, including but not limited to,
those warrants issued by the Comp any on September 3, 2019; August 19, 2019; July 3, 201 9;
March 1, 201 9; November 5, 201 8; October 16, 201 8; September 17, 201 8; August 31, 201 8;
April 18, 201 8; January 3, 2018; and December 27, 201 7, respectively, will be appropriately
adjusted by dividing the number of shares of common stock into which the options and warrants
are exercisable or convertible by 10, and multiplying the exercise or conversion price thereof by
10, as a result of the reverse split.
The reverse split will not impact any shareholders percentage ownership of the Company or
voting power, except for the minimal effects resulting from the treatment of fractional shares.
The Company’s shares of common stock will continue to trade in Canada on the CSE under the
symbol “RISE” and in the United States on the OTCQB under the symbol “ RYES.” The shares
will trade under a new CUSIP Number 76760M 200. Capital Transfer Agency, the Company’s
transfer agent, will act as exchange agent for the reverse split. Please contact Capital Transfer
Agency at [email protected] or by calling (416)-350-5007.
About Rise Gold Corp.
Rise Gold is an exploration-stage mining company. The Company’s principal asset is the historic
past-producing Idaho -Maryland Gold Mine located in Nevada County, California, USA. The
Idaho-Maryland Gold Mine produced 2,414,000 oz of gold at an average mill head grade of 17
gpt gold from 1866 -1955. Historic production at the Idaho -Maryland Mine is disclosed in the
Technical Report on the Idaho -Maryland Project da ted June 1st, 2017 and available on
www.sedar.com. Rise Gold is incorporated in Nevada, USA and maintains its head office in
Vancouver, British Columbia, Canada.
On behalf of the Board of Directors:
Benjamin Mossman
President, CEO and Director
Rise Gold Corp.
For further information, please contact:
RISE GOLD CORP.
Suite 650, 669 Howe Street
Vancouver, BC V6C 0B4
T: 604.260.4577
www.risegoldcorp.com
- 3 -
The CSE has not reviewed, approved or disapproved the contents of this news release.
Forward-Looking Statements
This press release contains certain forward -looking statements within the meaning of applicable
securities laws. Forward -looking statements are frequently characterized by words such as
“plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estim ate” and other similar words
or statements that certain events or conditions “may” or “will” occur.
Although the Company believes that the expectations reflected in the forward-looking statements
are reasonable, there can be no assurance that such expec tations will prove to be correct. Such
forward-looking statements are subject to risks, uncertainties and assumptions related to certain
factors including, without limitation, obtaining all necessary approvals, meeting expenditure and
financing requirement s, compliance with environmental regulations, title matters, operating
hazards, metal prices, political and economic factors, competitive factors, general economic
conditions, relationships with vendors and strategic partners, governmental regulation and
supervision, seasonality, technological change, industry practices, and one -time events that may
cause actual results, performance or developments to differ materially from those contained in
the forward -looking statements. Accordingly, readers should not place undue reliance on
forward-looking statements and information contained in this release. Rise undertakes no
obligation to update or publicly release any revisions to forward-looking statements or
information except as required by law.