VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 3, 2017) - Rise Resources Inc. (CSE:UPP)(CSE:UPP.CN)(OTC PINK:RYES) ("Rise" or the "Company") announces that it has changed its name to "Rise Gold Corp." effective immediately. The Company will issue a further news release to advise when it will commence trading under its new name and trading symbol on the Canadian Securities Exchange ("CSE").
The Company also announces that it has granted 500,000 stock options to John Anderson, a director of the Company, pursuant to its stock option plan. Each option vests immediately and is exercisable into one share of the Company's common stock at a price of $0.27 per share until April 3rd, 2022.
Property Purchase Agreement Extension
The Company also announces that it has extended its agreement to purchase 82 acres of land (the "Mill Site") in Grass Valley, California, USA.
The Company has paid a total deposit of USD$300,000 to the vendor in exchange for the rights to purchase the Mill Site for an additional USD$1,600,000 on or before June 30th, 2017 (the "Land Acquisition").
The Mill Site is located directly adjacent to the Brunswick Mine shaft where the Company currently owns 37 acres of surface land. The site was used for a commercial saw mill until 1991 and all buildings and machinery have subsequently been removed. The Mill Site has a leveled area of ~40acres and a 4-acre settling pond. The settling pond is adjacent to the Brunswick Mine shaft.
The Company believes that this additional surface land will be complementary to the exploration and future development of the Idaho-Maryland Gold Project. The Company is currently conducting due diligence on the acquisition.
The Company has prepared a map showing the features of the land in the Brunswick area which is posted to the Company website and can be downloaded from the following link.
The Company announces that it has issued promissory notes (the "Notes") for a total of CDN$220,000 to various arms-length parties. The proceeds of this issue were used in conjunction with the Land Acquisition. The Notes accrue interest as a fee of 10% of their face value every 3 months, in advance, and are repayable on June 29, 2017.
About Rise Gold Corp.
Rise is an exploration stage mining company. The Company's principal asset is the historic past producing Idaho-Maryland Gold Mine located in California, USA. Rise was incorporated in Nevada, USA in 2007 and maintains its head office in Vancouver, British Columbia, Canada.
On behalf of the Board of Directors:
CEO and Director
Rise Resources Inc.
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", "estimate" 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 expectations 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 requirements, 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 forward-looking statements or information except as required by law.