MineralRite Corp (RITE)

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During the period commencing August 13 , 2014 through September 12, 2014 the MineralRite Corporation, a Nevada corporation (the “Company”) issued 196,938,652 common shares to reduce debt on convertible promissory notes and account payable balances in the amount of $32,187.26 .The company had 4,000,000 shares returned to treasury. The issued and outstanding common shares of the Company at the beginning of the period commencing August 12, 2014 was 401,724,370 and for the period ending September 12, 2014 the issued and outstanding common shares of the Company was 594,663,022 .




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.




Item 8.01. Other Events




On September 10, 2014, the Company issued a 8% convertible redeemable promissory note, for one payment of $10,000. The convertible promissory note matures on September 10, 2015. The Company has the right to pre pay any time before March 10, 2015 for 150% of face value plus accrued interest.





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