Rise Gold Corp. Enters into Sale Agreement for Industrial Land

On November 27, 2024, Rise Gold Corp. (OTCMKTS:RYES) entered a material definitive agreement to sell 66 acres of industrial land adjacent to the company’s Idaho-Maryland Mine Property (I-M Mine) for $4.3 million. This transaction is split into two sale agreements with an arm’s length third party, referred to as the “Purchaser”.

The first agreement, covering 16 acres of land for $1.8 million, was finalized on November 27, 2024, with an initial payment of half the sale price, subject to certain deductions. The remaining balance is scheduled for payment by November 27, 2026, with the Purchaser set to pay 5% annual interest on the unpaid amount until settled.

The second sale agreement pertains to 50 acres of land sold at $2.5 million and is anticipated to close on May 26, 2025. Half of the sale price will be due on the closing date, with the remainder to be paid by May 26, 2027. As part of this agreement, the Purchaser has deposited $200,000 in escrow and is paying $12,500 monthly as rent until closure, with these payments offsetting the purchase price. Post-closure, the Purchaser will continue to pay 5% annual interest on the remaining balance until completion.

Additionally, Rise Gold and the Purchaser have established an option agreement permitting Rise Gold to repurchase the 66 acres of land at the sale price plus the cost of any improvements, plus a 5% annual increment provided that Rise Gold secures final government approvals for conducting mining operations at the I-M Mine Property.

This development was disclosed in a Form 8-K filing with the Securities and Exchange Commission on November 27, 2024. Alongside this filing, the company also released a press release on the same date.

Investors and stakeholders keen on further financial details can refer to the relevant exhibit, “Press release dated November 27, 2024”, attached as Exhibit 99.1 within the filing. Additionally, relevant information is included in the Cover Page Interactive Data File, embedded within the Inline XBRL documentation under Exhibit 104.

As the agreement unfolds, Rise Gold Corp. remains focused on operational advancements and potential opportunities within the mining industry.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Rise Gold’s 8K filing here.

About Rise Gold

Rise Gold Corp. explores for mineral properties in the United States. It holds a 100% interest in the Idaho-Maryland Gold Mine property that comprises approximately 175 acres surface land and approximately 2,560 acres of mineral rights located in the Grass Valley of Nevada County in northern California.