Vancouver, British Columbia– September 25, 2024 – Dryden Gold Corp. is issuing a correction regarding the increased maximum number of shares to be issued under the non-brokered equity financing known as the “Upsized Financing,” as previously announced on September 23, 2024. The Upsized Financing will now include an additional 4,000,000 FT shares, bringing the total aggregate maximum number of shares to be issued to 42,000,000, while the maximum aggregate proceeds will remain at up to $5,100,000.
The Upsized Financing consists of three components: increased number of FT Shares at a price of $0.13 per FT Share, charity flow-through units (CFT Unit) at a price of $0.15 per CFT Unit, and hard dollar units (HD Units) at a price of $0.11 per HD Unit. Finders’ fees may be payable to eligible persons in connection with certain subscriptions accepted by the Company.
The purpose of the Upsized Financing is to fund drilling and re-logging activities on the Company’s Dryden Gold Property in northwestern Ontario. The FT Shares and CFT Units will qualify as “flow-through shares” under the Canadian Tax Act, with proceeds allocated towards eligible resource exploration expenses. The proceeds from the issuance of HD Units will be used for general corporate purposes.
The closing of the Upsized Financing is subject to regulatory approvals, including the approval of the TSX Venture Exchange. Insiders may participate in the financing, contingent upon exemptions from formal valuation and minority shareholder approval requirements.
Dryden Gold Corp. is an exploration company listed on the TSX Venture Exchange and OTCQB, focused on the discovery of high-grade gold mineralization. The Company’s strategic land position in the Dryden District of Northwestern Ontario boasts historical gold mines and significant exploration potential. For more information, visit www.drydengold.com.
For inquiries, please contact:
– Trey Wasser, CEO – twasser@drydengold.com, 940-368-8337
– Ashley Robinson, Investor Relations – ir@drydengold.com
– Maura Kolb, M.Sc., P. Geo., President – mjkolb@drydengold.com, 807-632-2368
This release contains forward-looking statements and cautionary notes regarding risks and uncertainties. The securities mentioned have not been registered under the U.S. Securities Act and are offered outside the United States in compliance with Regulation S. This press release does not constitute an offer to sell securities in the United States.
For the original source of this press release, visit https://www.newsfilecorp.com/release/224621
Source: Dryden Gold Corp.
