Dryden Gold Receives Notice of Top-Up Right from Centerra Gold
Dryden Gold Corp. [TSX-V: DRY) (OTCQX: DRYGF] announces that, further to the investor rights agreement dated December 17, 2024, between the Company and Centerra Gold Inc. [TSX: CG) (NYSE: CGAU] Centerra has issued to the Company notice of their intention to exercise their ‘top-up right’ as it relates to certain share issuances completed by the Company through March 31, 2026. The share issuances were related to warrant exercises, certain option exercises and the Company’s final property payment on its Tremblay Option Agreement.
Subject to the approval of the TSX Venture Exchange, an aggregate of 440,000 common shares will be issued to Centerra at a price of $0.32 per share for aggregate consideration of $140,800, calculated using the five day volume weighted average price in accordance with the Centerra IRA, subject to the approval of the TSX Venture Exchange, to retain its 9.99% interest in the Company. A copy of the Centerra IRA is available on the Company’s SEDAR+ profile. The common shares issued will be subject to a hold period of four months and one-day pursuant to applicable securities laws.
The proceeds from the Offering will be used for general corporate purposes.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
ABOUT DRYDEN GOLD CORP.
Dryden Gold is an exploration company focused on the discovery of high-grade gold mineralization listed on the TSX-V (“DRY”) and traded on the OTCQB (“DRYGF”) and FSE (“X7W”). The Company has a strong management team and Board of Directors comprised of experienced individuals with a track record of building shareholder value through property acquisition and consolidation, exploration success, and mergers and acquisitions. Dryden Gold controls a 100% interest in a dominant strategic land position in the Dryden District of Northwestern Ontario. Our property package includes historic gold mines but has seen limited modern exploration. The property hosts high-grade gold mineralization over 50km of potential strike length along the Manitou-Dinorwic deformation zone. The property has excellent infrastructure, enjoys collaborative relationships with First Nations communities and benefits from proximity to an experienced mining workforce.
