Business
Dryden Gold Announces AGM Results and Closing of Concurrent Financing
Calgary, Alberta – December 18, 2023 – Dryden Gold Corp. (“Dryden Gold” or the “Company“) is pleased to announce significant milestones regarding the amalgamati
About this update from Dryden Gold Corp
[{"type":"text","content":" Calgary, Alberta – December 18, 2023 – Dryden Gold Corp. (“Dryden Gold” or the “Company“) is pleased to announce significant milestones regarding the amalgamation agreement dated October 30, 2023, amended on November 28, 2023 (collectively the “Definitive Agreement“) with 1317223 B.C. LTD. (“223“) pursuant to which the Company will amalgamate (the “Amalgamation“) with 223 and continue as one corporation (with the Company being the “Resulting Issuer“). As a result of the Amalgamation, the securityholders of 223 and Dryden Gold will become securityholders of the Resulting Issuer (the “Transaction“). Upon completion of the Transaction, the Resulting Issuer (to be named “Dryden Gold Corp.”) will carry on the business of Dryden Gold, as described in the press releases dated October 31, 2023 and on November 30, 2023 and filed on SEDAR by 223. Dryden Gold anticipates that the Transaction will enable the Resulting Issuer to meet the initial listing requirements of the TSX Venture Exchange (“TSXV“) for a “Tier 2 Mining Issuer” (as such term is defined in the policies of the TSXV). The Definitive Agreement Completion of the Transaction is subject to certain conditions (the “Transaction Conditions“), including among others: (i) the requirement for Dryden Gold to obtain shareholder approval for the Amalgamation; (ii) the requirement for 223 to obtain approval of all of the shareholders of 223 with respect to the Amalgamation; (iii) the completion of the Offering (as defined below); (iv) the completion of the Consolidation by 223; (v) obtaining the approval of the TSXV with respect to the listing of the Resulting Issuer Shares; (vi) the TSXV shall have granted an exemption or waiver from the sponsorship requirement or a sponsor shall have filed an acceptable report with the TSXV; and (vi) Dryden Gold shall not be in default of the requirements of any securities commission and no order shall have been issued that would prevent the Transaction or trading of any securities of Dryden Gold. The Offering Dryden Gold is pleased to announce that it has closed its previously announced offering of subscription receipts (“Subscription Receipts” (the “Hard Dollar Offering”). Pursuant to the Hard Dollar Offering Dryden Gold has issued 24,524,665 Subscription Receipts at a price of $0.15 per Subscription for gross proceeds of $3,678,6...