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MINERALRITE CORP FILES (8-K) Disclosing Unregistered Sale of Equity Securities

August 18, 2014

Item 3.02. Unregistered Sales of Equity Securities

During the period commencing July 30, 2014 through August 12, 2014 the MineralRite Corporation, a Nevada corporation (the "Company") issued 59,590,029 common shares to reduce debt on convertible promissory notes and account payable balances in the amount of $23,073.48. The issued and outstanding common shares of the Company at the beginning of the period commencing July 30, 2014 was 342,134,341 and for the period ending August 12, 2014 the issued and outstanding common shares of the Company was 401,724,370 .

The Company claims an exemption from the registration requirements of the Securities Act of 1933, as amended (the "Act") for the private placement of these securities pursuant to Section 3(a) and 4(2) of the Act and/or Rule 506 of Regulation D promulgated thereunder since, among other things, the transaction does not involve a public offering, the Investor is an "accredited investor" and/or qualified institutional buyer, the Investor has access to information about the Company and its investment, the Investor will take the securities for investment and not resale, and the Company is taking appropriate measures to restrict the transfer of the securities.

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Source: Edgar Glimpses

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