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Dryden Gold Corp. Announces Upsizing of Previously Announced Equity Financing with Participation from Centerra Gold
Vancouver, British Columbia--(Newsfile Corp. - August 8, 2025) - Dryden Gold Corp. (TSXV: DRY) (...
About this update from Dryden Gold Corp
[{"type":"text","content":"Dryden Gold Corp. Announces Upsizing of Previously Announced Equity Financing with Participation from Centerra GoldVancouver, British Columbia--(Newsfile Corp. - August 8, 2025) - Dryden Gold Corp. (TSXV: DRY) (OTCQB: DRYGF) (FSE: X7W) (\"Dryden Gold\" or the \"Company is pleased to announce that as a result of excess demand it is increasing the previously announced (July 17, 2025) non-brokered equity financing under the Listed Issuer Financing Exemption (the \"Upsized LIFE Financing\") of up to an aggregate of 31,721,667 common shares for aggregate proceeds of up to $7,820,120. The Upsized LIFE Financing is comprised of flow-through common shares (the \"FT Shares\") and charity flow-through common shares (the \"CFT Shares\") and hard dollar common shares (the \"HD Shares\"). Up to 9,216,667 FT Shares will be offered at $0.24 per FT Share for aggregate proceeds of up to $2,212,000. Up to 13,180,000 CFT Shares will be offered at a price of $0.284 per CFT Share for aggregate proceeds of up to $3,743,120. Up to 9,325,000 HD Shares will be offered at a price of $0.20 per HD Share for aggregate proceeds of up to $1,865,000. The FT Shares and the CFT Shares will qualify as \"flow-through shares\" within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the \"Tax Act\") and \"Ontario focused flow-through shares\" as defined in the Taxation Act, 2007 (Ontario) (\"Ontario Tax Act\"). The Upsized LIFE Financing is subject to compliance with applicable securities laws and the approval of the TSX Venture Exchange. Finders' fees of 6% cash under the Upsized LIFE Financing, may be payable to eligible arm's length persons with respect to certain subscriptions accepted by the Company. The Company is also pleased to announce that Centerra Gold Inc. (\"Centerra\") will exercise their 'top-up right' to retain their 9.9% interest in the Company, as granted within the investor rights agreements dated December 17, 2024. Closing of the Offering is subject to receipt of applicable regulatory approvals including the approval of the TSX Venture Exchange. The gross proceeds of the Upsized LIFE Financing will be used to fund additional drilling on the Company's Dryden Gold Property in northwestern Ontario and a portion of the proceeds from the sale of HD Shares will be used for working capital and general and administrative expenses. An...