Dryden Gold closes $1.84-million financing

Executive Summary

• Dryden Gold Corp. has closed its previously announced upsized non-brokered equity financing.
• The company issued 4.35 million charity flow-through (CFT) common shares at a price of $0.425 per share.
• The transaction generated aggregate gross proceeds of $1,848,750, with no finders' fees paid.

Key Details

• Transaction Structure: Upsized non-brokered equity financing consisting of charity flow-through (CFT) common shares.
• Share Quantity: 4.35 million CFT common shares.
• Price Per Share: $0.425 CAD.
• Gross Proceeds: $1,848,750 CAD.
• Use of Proceeds: Funds will be used to incur eligible resource exploration expenses, specifically:
  • Canadian exploration expenses (as defined in Subsection 66.1(6) of the Income Tax Act).
  • Flow-through mining expenditures (subject to Bill C-15, Budget 2025 Implementation Act, No.1 receiving Royal Assent).
  • Eligible Ontario exploration expenditures (for certain Ontario purchasers).
• Tax Renunciation: All qualifying expenditures will be renounced in favor of subscribers for the CFT shares effective on or before December 31, 2026.
• Regulatory Status: The issuance remains subject to final acceptance by the TSX Venture Exchange and compliance with applicable regulatory requirements, including National Instrument 45-106.
• Fees: No finders' fees were paid in connection with the offering.

Notable Quotes

• None provided in the text.