Dryden Gold increases private placement to $1.84M

Executive Summary

• Dryden Gold Corp. is upsizing its previously announced non-brokered equity financing, increasing the issuance of charity flow-through common shares.
• The company will issue 4.35 million shares at a price of 42.5 cents per share, generating aggregate gross proceeds of $1,849,185.
• Proceeds will be used for eligible resource exploration expenses, which will be renounced to subscribers for tax purposes.

Key Details

• Transaction Type: Upsizing of previously announced non-brokered equity financing.
• Shares Issued: 4.35 million charity flow-through common shares (CFT shares).
• Price Per Share: 42.5 cents CAD.
• Gross Proceeds: $1,849,185 CAD.
• Tax Status: Shares qualify as flow-through shares under Subsection 66(15) of the Income Tax Act (Canada) and Ontario-focused flow-through shares under the Taxation Act, 2007 (Ontario).
• Finders' Fees: None; no finders' fees will be paid.
• Regulatory Approval: Subject to approval of the TSX Venture Exchange.
• Use of Proceeds: To incur eligible resource exploration expenses qualifying as Canadian exploration expenses, flow-through mining expenditures, and eligible Ontario exploration expenditures.
• Renunciation: All qualifying expenditures will be renounced in favor of subscribers effective on or before December 31, 2026.