On February 17, 2023, Rise Gold Corp. closed the transaction. The company issued 3,050,934 units at a price of $0.40 per Unit (CAD 0.55 per Unit), for the gross proceeds of $1,220,374 in the second and final tranche.

Each Unit comprising one share of common stock and one-half of one share purchase warrant. Each whole warrant entitles the holder to acquire one Share at an exercise price of $0.60 until February 17, 2025. In connection with the Financing, the Corporation paid a total of $1,420 in finder's fees and issued a total of 3,540 finder's warrants, where each Finder's Warrant entitles the holder to acquire one Share at a price of $0.60 until February 17, 2025.

The Corporation issued the Finder's Warrants in reliance on the private offering exemption from registration provided by Section 4(a)(2) of the Securities Act. The Company raised a total of $3,000,000 through the sale of 7,500,000 Units. All securities issued pursuant to the Financing are subject to statutory hold periods in accordance with applicable United States and Canadian securities laws.

Under Canadian securities laws the securities are subject to a hold period expiring on June 18, 2023. The transaction included participation from individual investor, Michael Gentile of 462,000 units for $184,800 and returning investor Southern Arc Minerals Inc. for 1,000,000 units for gross proceeds of $400,000.