FYIJanuary 7, 2010
Rye Patch Gold Corp. Completes $6 Million Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 7, 2010) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Rye Patch Gold Corp. (TSX VENTURE:RPM)(OTCBB:RPMGF) ("Rye Patch" or the "Company") is pleased to announce that it has closed the second and final tranche of its previously announced non-brokered private placement (the "Private Placement") by issuing an additional 3,450,000 units ("Units") at a price of
.25 per Unit for additional gross proceeds of $862,500. With the second and final closing (the "Final Closing"), the Company has issued a total of 24,280,000 Units under the Private Placement for total gross proceeds of $6,070,000.
Each Unit consisted of one common share of the Company (a "Share") and one-half of one transferable common share purchase warrant of the Company (each whole warrant, a "Warrant"). Each Warrant issued pursuant to the Final Closing will entitle the holder thereof to purchase one additional Share at a price of
.35 until January 7, 2012.
Certain insiders of the Company comprised of Kinross Gold Corporation, a private investor and a precious metals fund purchased a total of 5,250,000 Units under the Private Placement, thereby increasing their investment in the Company as valued shareholders. Seven precious metals funds also became new shareholders of the Company by purchasing a total of 16,100,000 Units.
Subject to the approval of the TSX Venture Exchange (the "TSX-V"), the Company will, in connection with the Final Closing, pay finder's fees in cash in the aggregate of $46,375 and issue to one finder a non-transferable option ("Finder's Option") to acquire up to 21,000 units of the Company ("Finder's Units") at the price of
.25 per Finder's Unit for a period of two years from the date of issue of the Finder's Option. Each Finder's Unit will be comprised of one Share and one-half of one non-transferable common share purchase warrant of the Company (each whole warrant, a "Finder's Warrant"), with each Finder's Warrant entitling the holder thereof to purchase one additional Share at a price of
.35 for a period of two years from the date of issue of the Finder's Option. All finders involved in the Private Placement are at arm's length to the Company.
The Shares and Warrants comprising the Units issued pursuant to the Final Closing, and the Shares issuable upon exercise of such Warrants, are subject to a hold period that expires on May 8, 2010. The Shares and Finder's Warrants comprising the Finder's Units, and the Shares issuable upon exercise of such Finder's Warrants, will also subject to a hold period that expires on May 8, 2010, if issued prior to such date.
The net proceeds from the Private Placement will be used to facilitate the acquisition by Rye Patch of Centerra Gold (U.S.) Inc.'s 64% interest in the Ren project, to commence a drilling exploration program on the project, as well as for general working capital.
The Private Placement is subject to the final approval of the TSX-V.
The securities of the Company and the securities to be issued pursuant to the Private Placement have not and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or the securities laws of any state of the United States, and may not be offered or sold in the United States absent registration or an applicable exemption therefrom under the 1933 Act and the securities laws of all applicable states.
Rye Patch Gold Corp. is a Tier 1, Nevada-focused and discovery-driven company seeking to build a sizeable inventory of gold and silver resource assets in the mining friendly state of Nevada, USA. The Company's seasoned management team is engaged in acquisition, exploration and development of quality resource-based gold and silver projects. Rye Patch Gold is developing its primary assets - the advanced-stage Wilco project located within the emerging Oreana gold trend in west-central Nevada and the Jessup project in Churchill County, Nevada. The Company has established gold and silver resource milestones and time frames in order to build a premier resource development company. For more information about Rye Patch Gold, please visit our website at www.ryepatchgold.com.
On behalf of the Board of Directors
William C. (Bill) Howald, CEO & President
This news release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. The Company's actual results, programs and financial position could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company's control. These factors include: the availability of funds; the timing and content of work programs; results of exploration activities and development of mineral properties, the interpretation of drilling results and other geological data, the uncertainties of resource and reserve estimations, receipt and security of mineral property titles; project cost overruns or unanticipated costs and expenses, fluctuations in metal prices; currency fluctuations; and general market and industry conditions.
Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CONTACT INFORMATION:
Rye Patch Gold Corp.
Investor Relations
(604) 638-1588
Fax: (604) 638-1589
info@ryepatchgold.com
www.ryepatchgold.com
INDUSTRY: Manufacturing and Production - Mining and Metals
Officers & Directors Overview:: Rye Patch Gold Corp. (V: RPM)
| Data represents transactions by company officers and directors and covers a maximum period of two years of transactions. Data does not include other securities such as convertibles or insiders of subsidiaries and 10% security holders which can all be screened through Advanced Search or viewed in Latest Filings or Filing Details for each company. Titles of insiders are provided on a reasonable efforts basis, as are the elimination of duplicate filings across multiple accounts in net buying or selling totals. Titles may include former CEO's, CFO's and other insiders. Stylized "A", which appears in front of the Nature of Transaction item, indicates it is an amended filing. Stylized "I" indicates that INK has adjusted the filing. All data presented should be treated as estimates as it is based on insider filings which are subject to errors if input mistakes are made by a filer. Information on this site does not constitute a buy or sell recommendation for the security. |
| Buying | | CEO | None | | CFO | None | | Other Officers | 160,145 | | Directors | None | | Total Buying | $160,145 | | | Selling | | CEO | None | | CFO | None | | Other Officers | -4,480 | | Directors | None | | Total Selling | $-4,480 | | | |
Net $155,665 CAD
| |
| Transaction Date | | Insider Name | Nature of Transaction | Account Change * | Shares / Units | Price |
| Dec 14/09 | | Howald, William Carl | Acquisition in the public market | 0.1% | 1,000 | 0.275 |
| Dec 14/09 | | Howald, William Carl | Acquisition in the public market | 1.4% | 24,000 | 0.260 |
| Dec 11/09 | | Howald, William Carl | Acquisition in the public market | 0.6% | 10,000 | 0.275 |
| Dec 11/09 | | Howald, William Carl | Acquisition in the public market | 0.6% | 10,000 | 0.290 |
| Dec 10/09 | | Howald, William Carl | Acquisition in the public market | 0.3% | 5,000 | 0.295 |
| Dec 09/09 | | Howald, William Carl | Acquisition in the public market | 0.3% | 5,000 | 0.330 |
| Dec 07/09 | | Kajszo, Joe | Acquisition in the public market | 3.7% | 30,000 | 0.340 |
| Dec 07/09 | | Howald, William Carl | Acquisition in the public market | 1.8% | 30,000 | 0.350 |
| Dec 04/09 | | Howald, William Carl | Acquisition in the public market | 0.3% | 5,000 | 0.390 |
| Dec 03/09 | | Howald, William Carl | Acquisition in the public market | 0.6% | 10,000 | 0.400 |
| Nov 27/09 | | Howald, William Carl | Acquisition in the public market | 0.3% | 5,000 | 0.420 |
| Nov 27/09 | | Howald, William Carl | Acquisition in the public market | 0.3% | 5,000 | 0.415 |
| Nov 26/09 | | Kajszo, Joe | Acquisition in the public market | 0.5% | 10,000 | 0.420 |
| Nov 26/09 | | Kajszo, Joe | Acquisition in the public market | 0.3% | 5,000 | 0.415 |
| Nov 26/09 | | Kajszo, Joe | Acquisition in the public market | 0.3% | 5,000 | 0.400 |
| Nov 25/09 | | Kajszo, Joe | Acquisition in the public market | 0.7% | 13,500 | 0.430 |
| Nov 25/09 | | Kajszo, Joe | Acquisition in the public market | 0.5% | 10,500 | 0.420 |
| Nov 25/09 | | Howald, William Carl | Acquisition in the public market | 1.5% | 25,000 | 0.415 |
| Nov 25/09 | | Howald, William Carl | Acquisition in the public market | 0.9% | 15,000 | 0.420 |
| Nov 24/09 | | Howald, William Carl | Acquisition in the public market | 0.1% | 1,000 | 0.425 |
| Nov 24/09 | | Howald, William Carl | Acquisition in the public market | 0.2% | 4,000 | 0.420 |
| Nov 19/09 | | Kajszo, Joe | Acquisition in the public market | 1.2% | 10,000 | 0.375 |
| Nov 19/09 | | Howald, William Carl | Acquisition in the public market | 0.6% | 10,000 | 0.405 |
| Oct 09/09 | | Brown, Mark Thomas | Disposition in the public market | -1.4% | -1,000 | 0.380 |
| Oct 01/09 | | Kajszo, Joe | Acquisition in the public market | 0.6% | 5,000 | 0.315 |
| Sep 23/09 | | Kajszo, Joe | Acquisition in the public market | 0.6% | 5,000 | 0.310 |
| Sep 16/09 | | Howald, William Carl | Acquisition in the public market | 0.2% | 2,500 | 0.255 |
| Sep 09/09 | | Howald, William Carl | Acquisition in the public market | 0.3% | 5,000 | 0.240 |
| Sep 03/09 | | Howald, William Carl | Acquisition in the public market | 0.2% | 2,500 | 0.250 |
| Aug 28/09 | | Kajszo, Joe | Acquisition in the public market | 1.0% | 8,000 | 0.210 |
| Aug 26/09 | | Howald, William Carl | Acquisition in the public market | 0.3% | 5,000 | 0.200 |
| Aug 24/09 | | Howald, William Carl | Acquisition in the public market | 0.4% | 7,000 | 0.200 |
| Jun 18/09 | | Kajszo, Joe | Acquisition in the public market | 0.3% | 2,500 | 0.230 |
| Jun 05/09 | | Kajszo, Joe | Acquisition in the public market | 0.4% | 3,000 | 0.270 |
| Jun 05/09 | | Kajszo, Joe | Acquisition in the public market | 0.6% | 5,000 | 0.260 |
| May 29/09 | | Kajszo, Joe | Acquisition in the public market | 0.1% | 1,000 | 0.270 |
| May 29/09 | | Kajszo, Joe | Acquisition in the public market | 0.5% | 4,000 | 0.260 |
| May 29/09 | | Kajszo, Joe | Acquisition in the public market | 0.7% | 5,000 | 0.250 |
| May 28/09 | | Kajszo, Joe | Acquisition in the public market | 1.1% | 8,000 | 0.250 |
| May 27/09 | | Kajszo, Joe | Acquisition in the public market | 0.9% | 7,000 | 0.240 |
| May 22/09 | | Howald, William Carl | Acquisition in the public market | 0.2% | 3,000 | 0.240 |
| May 21/09 | | Howald, William Carl | Acquisition in the public market | 0.3% | 5,000 | 0.235 |
| May 15/09 | | Howald, William Carl | Acquisition in the public market | 0.6% | 10,000 | 0.230 |
| May 14/09 | | Kajszo, Joe | Acquisition in the public market | 0.1% | 1,000 | 0.250 |
| May 14/09 | | Kajszo, Joe | Acquisition in the public market | 0.5% | 4,000 | 0.245 |
| May 14/09 | | Kajszo, Joe | Acquisition in the public market | 1.4% | 10,000 | 0.230 |
| May 14/09 | | Kajszo, Joe | Acquisition in the public market | 1.4% | 10,000 | 0.220 |
| May 14/09 | | Kajszo, Joe | Acquisition in the public market | 0.7% | 5,000 | 0.210 |
| May 14/09 | | Kajszo, Joe | Acquisition in the public market | 0.7% | 5,000 | 0.200 |
| May 14/09 | | Howald, William Carl | Acquisition in the public market | 0.0% | 500 | 0.230 |
| May 14/09 | | Howald, William Carl | Acquisition in the public market | 0.3% | 4,000 | 0.210 |
| May 13/09 | | Kajszo, Joe | Acquisition in the public market | 0.7% | 5,000 | 0.200 |
| May 10/09 | | Kajszo, Joe | Acquisition in the public market | 0.4% | 3,000 | 0.230 |
| May 07/09 | | Howald, William Carl | Acquisition in the public market | 0.2% | 2,500 | 0.215 |
| May 06/09 | | Brown, Mark Thomas | Disposition in the public market | -12.0% | -10,000 | 0.210 |
| May 05/09 | | Brown, Mark Thomas | Disposition in the public market | -10.7% | -10,000 | 0.200 |
| Apr 30/09 | | Kajszo, Joe | Acquisition in the public market | 0.7% | 5,000 | 0.170 |
| Apr 22/09 | | Kajszo, Joe | Acquisition in the public market | 0.7% | 5,000 | 0.160 |
| Apr 22/09 | | Kajszo, Joe | Acquisition in the public market | 2.8% | 19,000 | 0.150 |
| Apr 21/09 | | Kajszo, Joe | Acquisition in the public market | 1.5% | 10,000 | 0.155 |
| Apr 14/09 | | Howald, William Carl | Acquisition in the public market | 0.2% | 3,000 | 0.160 |
| Apr 09/09 | | Howald, William Carl | Acquisition in the public market | 0.1% | 1,000 | 0.150 |
| Apr 09/09 | | Howald, William Carl | Acquisition in the public market | 0.1% | 2,000 | 0.140 |
| Apr 09/09 | | Kajszo, Joe | Acquisition in the public market | 2.3% | 15,000 | 0.145 |
| Apr 01/09 | | Howald, William Carl | Acquisition in the public market | 0.1% | 1,000 | 0.140 |
| Apr 01/09 | | Howald, William Carl | Acquisition in the public market | 0.1% | 2,000 | 0.135 |
| Mar 20/09 | | Howald, William Carl | Acquisition in the public market | 0.1% | 2,000 | 0.160 |
| Mar 19/09 | | Kajszo, Joe | Acquisition in the public market | 1.9% | 12,000 | 0.145 |
| Mar 19/09 | | Howald, William Carl | Acquisition in the public market | 0.6% | 10,000 | 0.145 |
| Mar 17/09 | | Howald, William Carl | Acquisition in the public market | 0.6% | 9,000 | 0.145 |
| Mar 17/09 | | Howald, William Carl | Acquisition in the public market | 0.4% | 6,000 | 0.140 |
| Jan 19/09 | | Kajszo, Joe | Acquisition in the public market | 0.6% | 4,000 | 0.170 |
| Jan 17/09 | | Kajszo, Joe | Acquisition in the public market | 0.2% | 1,500 | 0.170 |
| Jan 16/09 | | Kajszo, Joe | Acquisition in the public market | 0.3% | 2,000 | 0.160 |
| Jan 16/09 | | Howald, William Carl | Acquisition in the public market | 0.2% | 3,000 | 0.165 |
| Jan 15/09 | | Kajszo, Joe | Acquisition in the public market | 0.4% | 2,500 | 0.150 |
| Jan 15/09 | | Kajszo, Joe | Acquisition in the public market | 0.4% | 2,500 | 0.160 |
| Jan 15/09 | | Howald, William Carl | Acquisition in the public market | 0.2% | 2,500 | 0.160 |
| Jan 14/09 | | Kajszo, Joe | Acquisition in the public market | 0.4% | 2,500 | 0.145 |
| Jan 14/09 | | Kajszo, Joe | Acquisition in the public market | 0.4% | 2,500 | 0.140 |
| Jan 13/09 | | Howald, William Carl | Acquisition in the public market | 0.3% | 4,500 | 0.125 |
| Jan 13/09 | | Kajszo, Joe | Acquisition carried out privately | 2.7% | 50,000 | 0.300 |
| Jan 08/09 | | Howald, William Carl | Acquisition in the public market | 0.2% | 3,000 | 0.170 |
| Jan 07/09 | | Kajszo, Joe | Acquisition in the public market | 0.3% | 2,000 | 0.150 |
Other Insiders Overview:: Rye Patch Gold Corp. (V: RPM)
| Titles of insiders are provided on a best efforts basis, as are the elimination of duplicate filings across multiple accounts in net buying or selling totals. Titles may include former Issuer's, 10% Holders's and other insiders. Stylized "A", which appears in front of the Nature of Transaction item, indicates it is an amended filing. Stylized "I" indicates that INK has adjusted the filing. All data presented should be treated as estimates as it is based on insider filings which are subject to errors if input mistakes are made by a filer. Information on this site does not constitute a buy or sell recommendation for the security. |
| Buying | | Issuer | None | | 10% Holders | 2,658,750 | | Others | None | | Total Buying | $2,658,750 | | | Selling | | Issuer | None | | 10% Holders | None | | Others | None | | Total Selling |
| | | |
Net $2,658,750 CAD
| |
| Transaction Date | | Insider Name | Nature of Transaction | Account Change * | Shares / Units | Price |
| Dec 24/09 | | Sun Valley Gold Master Fund, Ltd. | Acquisition carried out privately | 14.4% | 1,250,000 | 0.250 |
| Dec 24/09 | | Sun Valley Gold Llc | Acquisition carried out privately | 14.4% | 1,250,000 | 0.250 |
| Aug 12/09 | | Kinross Gold Corporation | Acquisition carried out privately | 21.0% | 1,200,000 | 0.000 |
| Aug 06/09 | | Sun Valley Gold Master Fund, Ltd. | Acquisition in the public market | > 100% | 6,666,667 | 0.150 |
| Aug 06/09 | | Sun Valley Gold Llc | Acquisition in the public market | > 100% | 6,666,667 | 0.150 |
| Mar 10/09 | | Kinross Gold Corporation | Acquisition carried out privately | 4.1% | 225,000 | 0.150 |
| * Indicates percentage change of shares or units for the account in which the security is held. Many insiders have |
Institutional Holders
| % Shares Owned: | 24.04% |
| # of Holders: | 4 |
| Total Shares Held: | 15,704,167 |
| 3 Mo. Net Change: | 1,250,000 |
| # New Positions: | 0 |
| # Closed Positions: | 0 |
| # Increased Positions: | 1 |
| # Reduced Positions: | 0 |
| # Net Buyers: | 1 |