Rise Gold (TSE:RISE) has released an update.
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Rise Gold Corp. has secured a $500,000 loan from Myrmikan Gold Fund, LLC, with a 4-year term and a 15% annual interest rate that will be used for working capital. The loan is backed by company assets and comes with nearly 2.9 million share purchase warrants at an exercise price of $0.1735 each. Notably, the transaction involves a company director, who abstained from voting due to a conflict of interest, yet regulatory exemptions apply given the transaction’s proportion to the company’s market cap.
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