$RITE MineralRite Corporation (RITE) Achieves Penn
Post# of 225
(Total Views: 66)
Posted On: 09/02/2025 10:40:59 AM
$RITE MineralRite Corporation (RITE) Achieves Penny Stock Exempt Status
https://www.newsfilecorp.com/release/264662/M...mpt-Status
Dallas, Texas--(Newsfile Corp. - September 2, 2025) - MINERALRITETM Corporation (OTCID: RITE) (the "Company" or "RITE"
, a Texas-based company focused on mineral recovery and strategic resource development, which trades on the OTCID, announces that its securities have been designated Penny Stock Exempt by OTC Markets.
The Penny Stock Exempt designation removes the additional regulatory burdens that typically apply to OTC securities classified as Penny Stocks -- which makes the process of buying or selling shares of RITE as straightforward as trading any other exempt or widely recognized security.
"Achieving Penny Stock Exempt status is a transformational milestone for MineralRite and its shareholders," said James Burgauer, President and CEO of MineralRite Corporation. "This change eliminates unnecessary friction, simplifies access for investors, and broadens the universe of investors, broker-dealers and institutions that can now engage with our stock more easily."
Under SEC and FINRA rules, Penny Stocks are generally defined as securities trading below $5 per share. A Penny Stock designation automatically subjects these stocks to additional restrictions including risk disclosures, written suitability confirmations, and delayed processing requirements.
By qualifying for Penny Stock Exempt status, RITE is no longer subject to those limitations. The result is a smoother, more accessible path for both new and existing investors to establish or expand positions.
MineralRite qualified for this status based on its strengthened financial and operational profile, including its $432 million previously processed mine tailings classified as chattel (personal property) and more than three years of continuous operations. This strong foundation demonstrates that RITE is well positioned to continue executing on its growth strategy while maintaining compliance with regulatory standards.
"Penny Stock Exempt status is a clear vote of confidence in the stability and substance of MineralRite," added Burgauer. "It allows us to better align our capital markets presence with the scale of our assets and our long-term vision for shareholder value."
In other news, RITE also recently executed a non-exclusive investment banking agreement with Partner Capital Group, LLC, a NY limited liability company, to raise up to $35 million of debt financing. The non-exclusive nature of the agreement allows RITE the flexibility to still obtain services from other financial service firms on a when and as-needed basis even while the agreement remains in force.
"With the latest round of SEC comments now behind us, our focus is firmly back on executing MineralRite's business plan and advancing our growth strategy," said Burgauer. "RITE's newly executed debt-financing based investment banking agreement underscores our commitment to securing the right financing partners, preserving flexibility, and remaining mindful of dilution as the Company continues to pursue opportunities that create long-term value for our shareholders. RITE continues to prioritize relationships with internationally recognized joint venture partners who can provide the large-scale dirt-moving expertise and personnel needed at the project level, thereby allowing RITE to remain focused on the monetization of the Company's assets."
https://www.newsfilecorp.com/release/264662/M...mpt-Status
Dallas, Texas--(Newsfile Corp. - September 2, 2025) - MINERALRITETM Corporation (OTCID: RITE) (the "Company" or "RITE"
, a Texas-based company focused on mineral recovery and strategic resource development, which trades on the OTCID, announces that its securities have been designated Penny Stock Exempt by OTC Markets. The Penny Stock Exempt designation removes the additional regulatory burdens that typically apply to OTC securities classified as Penny Stocks -- which makes the process of buying or selling shares of RITE as straightforward as trading any other exempt or widely recognized security.
"Achieving Penny Stock Exempt status is a transformational milestone for MineralRite and its shareholders," said James Burgauer, President and CEO of MineralRite Corporation. "This change eliminates unnecessary friction, simplifies access for investors, and broadens the universe of investors, broker-dealers and institutions that can now engage with our stock more easily."
Under SEC and FINRA rules, Penny Stocks are generally defined as securities trading below $5 per share. A Penny Stock designation automatically subjects these stocks to additional restrictions including risk disclosures, written suitability confirmations, and delayed processing requirements.
By qualifying for Penny Stock Exempt status, RITE is no longer subject to those limitations. The result is a smoother, more accessible path for both new and existing investors to establish or expand positions.
MineralRite qualified for this status based on its strengthened financial and operational profile, including its $432 million previously processed mine tailings classified as chattel (personal property) and more than three years of continuous operations. This strong foundation demonstrates that RITE is well positioned to continue executing on its growth strategy while maintaining compliance with regulatory standards.
"Penny Stock Exempt status is a clear vote of confidence in the stability and substance of MineralRite," added Burgauer. "It allows us to better align our capital markets presence with the scale of our assets and our long-term vision for shareholder value."
In other news, RITE also recently executed a non-exclusive investment banking agreement with Partner Capital Group, LLC, a NY limited liability company, to raise up to $35 million of debt financing. The non-exclusive nature of the agreement allows RITE the flexibility to still obtain services from other financial service firms on a when and as-needed basis even while the agreement remains in force.
"With the latest round of SEC comments now behind us, our focus is firmly back on executing MineralRite's business plan and advancing our growth strategy," said Burgauer. "RITE's newly executed debt-financing based investment banking agreement underscores our commitment to securing the right financing partners, preserving flexibility, and remaining mindful of dilution as the Company continues to pursue opportunities that create long-term value for our shareholders. RITE continues to prioritize relationships with internationally recognized joint venture partners who can provide the large-scale dirt-moving expertise and personnel needed at the project level, thereby allowing RITE to remain focused on the monetization of the Company's assets."
(0)
(0)