MineralRite Corporation (OTCPK:RITE) announced a private placement of convertible promissory notes for gross proceeds of $100,000 on April 17, 2013. The round included participation from one accredited investor. The notes will bear a 12% interest and will mature on April 17, 2014. The unpaid principal and interest balance may be converted into commons shares of the company at the lesser of $0.20 per share or a 20% discount to the 30 day volume weighted average price. The company issued securities pursuant to exemption provided under Regulation D. Peder K. Davisson of Davisson & Associates, PA acted as the legal advisor to the company.

On April 17, 2013, MineralRite Corporation closed the transaction.