MineralRite Corporation (OTCPK:RITE) announced that it has entered into securities purchase agreement with a new investor River North Equity, Inc. for gross proceeds of $10,000,000 on January 10, 2015. The company will receive funding as a part of equity line over a period of 24 months. The maximum amount that a company will receive in any tranche is the purchase price multiplied by the lesser of either 4.99% of the outstanding shares of common stock as of the closing trading day immediately preceding the applicable commencement date and the average daily trading volume of the common stock during the draw down pricing period multiplied by three.

However, the maximum investment amount shall not exceed $500,000. The company will pay broker or placement agent fees in the transaction. Each share to be issued will have a par value of $0.001 per share.

The company will issue securities pursuant to exemption provided under Regulation D.