ETFOptimize | High-performance ETF-based Investment Strategies

Quantitative strategies, Wall Street-caliber research, and insightful market analysis since 1998.


ETFOptimize | HOME
Close Window

MINERALRITE CORPORATION (RITE) Completes Corporate Action Case Filed with FINRA

By: Newsfile

Dallas, Texas--(Newsfile Corp. - April 29, 2025) - MINERALRITETM Corporation (OTC Pink: RITE) (the "Company" or "RITE"), recently received notice from the Financial Industry Regulatory Authority ("FINRA") acknowledging its F Reorganization merger redomicile of the Company into the State of Texas.

On March 22, 2024, RITE filed a case action with FINRA to properly recognize the F Reorganization that the Company underwent on April 7, 2021. Under the terms of this action, the Company merged the former Nevada entity into a Texas entity and exchanged shares on a one-for-one basis.

Now that FINRA has recognized this action, RITE shares will be assigned a new CUSIP number and FINRA will update its records to recognize the same number of authorized shares that have been reflected by the Company and the State of Texas for the last several years. This was and is a critical step for the Company to be able to raise capital in the public market.

According to FINRA, news of this action should be released in their daily list announcements on April 29, 2025; and the market effective date should be April 30, 2025.

When CEO Burgauer took over the Company, he announced that it was his intention to get RITE back to an auditable state, become fully reporting and re-engage with the brokerage community. As part of his foundational cleanup, CEO Burgauer acknowledged that cleaning up this issue with FINRA, filing a Form 10 with the Securities and Exchange Commission ("SEC"), and obtaining a revocation of the decades-old Cease Trade Order ("CTO") with the Alberta Securities Commission were three critical steps the Company needs to achieve in order for the Company to re-engage with the investment community and improve RITE's access to capital markets. CEO Burgauer said, "The revocation of the CTO occurred on March 20, 2025; RITE filed its responses to the SEC's comment letter last Friday, April 25, 2025. And today we got this incredible news from FINRA. RITE has had a fantastic last ten-days."

CEO Burgauer reiterated, "Now all that remains is the lifting of the Eligible for Unsolicited Quotes Only flag on the stock - which is already in process. In fact, responses to FINRA's 15c2-11 application comments were filed last week as well. Completing this last item will allow RITE to fully concentrate on ringing the Company's cash register!"

RITE is actively working on updating the Mine Operating Plan which is needed to finalize the updated lease with the Arizona State Land Department. That plan and the finalized lease will allow the Company to get the mining experts onto the property so they can update the historical reserve valuations (which were previously issued by NMC years ago) to ensure they meet the current requirements of the SEC and the Committee for Reserves International Reporting Standards ("CRIRSCO"). CEO Burgauer noted that the leases for the BLM properties in California have already been updated.

This news from FINRA will make it far easier for RITE to raise the capital necessary to get one or more of the recently acquired mining properties into production. Burgauer reiterated, "Next up, the Company intends to raise some capital and get our JV operators to work on these properties," said Burgauer. "It's exhilarating to be in the RITE place at the RITE time, especially considering that we are now operating in an industry under a government that understands that mining provides the resources to support so many critical aspects of our country's national security interests."

Safe Harbor Disclosure

Forward-Looking Statements: Certain information set forth in this presentation contains "forward-looking information", including "future-oriented financial information" and "financial outlook", under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, the information contained herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of the Company; (ii) completion of, and the use of proceeds from, the sale of the shares being offered hereunder; (iii) the expected development of the Company's business, projects, and joint ventures; (iv) execution of the Company's vision and growth strategy, including with respect to future M&A activity and global growth; (v) sources and availability of third-party financing for the Company's projects; (vi) completion of the Company's projects that are currently underway, in development or otherwise under consideration; (vi) renewal of the Company's current customer, supplier and other material agreements; and (vii) future liquidity, working capital, and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management's beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment.

These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements.

Although forward-looking statements contained in this presentation are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.

No Offer or Solicitation. This communication shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No public offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/250092

Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms Of Service.


 

IntelligentValue Home
Close Window

DISCLAIMER

All content herein is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy, nor should it be interpreted as a recommendation to buy, hold or sell (short or otherwise) any security.  All opinions, analyses, and information included herein are based on sources believed to be reliable, but no representation or warranty of any kind, expressed or implied, is made including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. We undertake no obligation to update such opinions, analysis or information. You should independently verify all information contained on this website. Some information is based on analysis of past performance or hypothetical performance results, which have inherent limitations. We make no representation that any particular equity or strategy will or is likely to achieve profits or losses similar to those shown. Shareholders, employees, writers, contractors, and affiliates associated with ETFOptimize.com may have ownership positions in the securities that are mentioned. If you are not sure if ETFs, algorithmic investing, or a particular investment is right for you, you are urged to consult with a Registered Investment Advisor (RIA). Neither this website nor anyone associated with producing its content are Registered Investment Advisors, and no attempt is made herein to substitute for personalized, professional investment advice. Neither ETFOptimize.com, Global Alpha Investments, Inc., nor its employees, service providers, associates, or affiliates are responsible for any investment losses you may incur as a result of using the information provided herein. Remember that past investment returns may not be indicative of future returns.

Copyright © 1998-2017 ETFOptimize.com, a publication of Optimized Investments, Inc. All rights reserved.