Press Release from Dryden Gold Corp.
Vancouver, British Columbia, August 26, 2024 – Dryden Gold Corp., a publicly-traded exploration company (TSXV: DRY) (OTCQB: DRYGF), is pleased to announce a proposed non-brokered equity financing (the “Financing”) of up to 14,000,000 shares. This offering includes flow-through common shares (the “FT Shares”) priced at $0.13 per share and charity flow-through units (the “CFT Unit”) priced at $0.15 per CFT Unit. The total aggregate proceeds from this financing are expected to reach $2,000,000. Each CFT Unit will consist of one FT Share and one-half of one common share purchase warrant, with each warrant allowing the holder to purchase an additional common share at an exercise price of $0.18 per share for a period of 24 months. Finders’ fees of 6% cash and warrants equal to 6% of the FT Shares and CFT Units sold may be payable to eligible arm’s length persons.
The completion of the Offering is subject to regulatory approvals, including approval from the TSX Venture Exchange. All securities issued in connection with the Financing will be subject to a four-month hold period. The proceeds from the Financing will be used to fund drilling and re-logging activities on the Company’s Dryden Gold Property in northwestern Ontario, with the FT Shares and CFT Units qualifying as “flow-through shares” under the Income Tax Act (Canada). The Company expects to close the Financing in one or more tranches once all necessary regulatory approvals are obtained, including approval from the Exchange.
Insiders of the Company may participate in the Offering by subscribing for CFT Units. This related party transaction will be subject to applicable regulations and exemptions under Multilateral Instrument 61-101.
Trey Wasser, CEO and Director of Dryden Gold Corp., expressed enthusiasm about the initial drilling results at the Gold Rock Camp and the potential of the high-grade Archean gold system. The Company’s technical disclosures have been reviewed and approved by a qualified person, Maura J. Kolb, PGeo, president of Dryden Gold.
Dryden Gold Corp. is an exploration company focused on discovering high-grade gold mineralization in the Dryden District of Northwestern Ontario. The Company’s strategic land position, strong management team, and historic gold mines make it a promising player in the industry. For more information, please visit our website at www.drydengold.com.
For more information, please visit the original press release here.
