Golden Rapture Mining Issues Shares to Settle Director Fees

Golden Rapture Mining, a Canadian exploration-stage company, has announced a significant move to settle a portion of its director's fees through the issuance of company shares. According to the press release, the firm intends to issue an aggregate of 480,000 common shares to its President and CEO, Richard Rivet, in exchange for the cancellation of CAD $24,000 of director fees that were outstanding from July 04, 2026, to September 20, 2026. This transaction was previously approved by the board of directors.

The company's rationale for this move is to preserve cash for working capital. The shares will be issued at a price of $0.05 each, in accordance with the policies of the Canadian Securities Exchange (CSE) and subject to their approval. The issuance of these shares to the director constitutes a "related party transaction" as defined in Multilateral Instrument 61-101 - Protection of Minority Securityholders in Special Transactions. The directors of the company, acting in good faith, determined that the fair market value of the shares being issued and the consideration being paid is reasonable.

Golden Rapture Mining intends to rely on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of the instrument. Specifically, the company notes that neither the fair market value of the shares nor the debt exceeds 25% of the company’s market capitalization. Any shares issued will be subject to a four (4) month and one day hold period.

As of the latest available information, Golden Rapture Mining has issued a total of 52,639,390 shares. The company's exploration strategy is focused on applying modern exploration techniques to historically known gold systems in established mining jurisdictions with existing infrastructure. The firm's portfolio of properties includes the Phillips Township, Swell Bay, Bully Boy, South of Goliath, Northern Queen, and the Hutchison Mine.