Riley Gold Receives Proceeds of $1.67M from Warrant Exercises
Rhea-AI Summary
Riley Gold (OTCQB: RLYGF) announced that 6,677,401 warrants from its April 2, 2024 private placement were exercised, producing total gross proceeds of CDN$1,669,350 on April 2, 2026.
The exercise represented 86% of 7,782,185 warrants that expired April 2, 2026. CEO Todd Hilditch exercised 798,518 warrants at $0.25, increasing his holdings to 4,948,454 shares (~10.13% ownership). The Pipeline West/Clipper Gold Project is operated by Kinross under an exploration earn-in agreement executed March 2024.
Positive
- Raised CDN$1,669,350 from warrant exercises
- 86% of outstanding warrants exercised (6,677,401 of 7,782,185)
- CEO increased stake to 4,948,454 shares (~10.13%), signaling alignment
Negative
- Issued 6,677,401 common shares via warrant exercises, increasing share count
- Insider exercised 798,518 warrants, raising individual control concentration to ~10.13%
News Market Reaction – RLYGF
In the Apr 6 session, RLYGF gained 11.06%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - April 6, 2026) - Riley Gold Corp. (TSXV: RLYG) (OTCQB: RLYGF) ("Riley Gold" or the "Company") announces that 6,677,401 warrants issued in connection with the Company's April 2, 2024 private placement have been exercised resulting in total gross proceeds of CDN
"We are pleased to see such strong participation from our warrant holders," stated Todd Hilditch, CEO of Riley Gold. "The exercise of
PWC is located in the Cortez mining district of the Battle Mountain - Eureka Trend (Figure 1). PWC is operated by Kinross Gold U.S.A., Inc. ("Kinross"), a wholly owned subsidiary of Kinross Gold Corporation (TSX: K) (NYSE: KGC), under an exploration earn-in agreement executed in March 2024.
Additionally, Todd Hilditch, Chief Executive Officer and director of Riley Gold, upon exercise of 798,518 warrants (held by a company
About PWC:
PWC constitutes a very prospective exploration property for Carlin-type, disseminated and replacement gold deposits. PWC consists of a land package totaling approximately 27.2 km² of unpatented mining claims and patented fee lands adjoining Nevada Gold Mines LLC. PWC is situated along the Cortez structural zone of the exceptionally productive Cortez Trend within the Battle Mountain - Eureka Trend in north central Nevada (Figure 1). The Cortez and Pipeline complexes (adjoining Riley Gold's PWC boundary) are top producers within Nevada, a State that has consistently produced between 4-5 million ounces of gold a year.
Figure 1. PWC project location in the Cortez district
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About Riley Gold Corp.
Riley Gold is an exploration and development company focused in Nevada, USA, with assets located in the Battle Mountain - Eureka Trend (within the Cortez District) and the Walker Lane Trend. Riley Gold's founders and leadership team have a proven track record of maximizing shareholder value during each phase of the mining life cycle: exploration, development, and production.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Bryan McKenzie
Chief Financial Officer
Tel: (604) 443-3834
Neither the 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/291230