Dryden Gold Announces Upsizing of its Equity Financing with Participation from Centerra Gold and Alamos Gold
Vancouver, British Columbia —April 27, 2026— Dryden Gold Corp. [TSXV: DRY, OTCQX: DRYGF] (“Dryden Gold” or the “Company”) is pleased to announce that as a result of excess demand it is increasing the previously announced (April 14, 2026) non-brokered equity financing (the “Upsized Financing”) to include up to an aggregate of 23,000,000 common shares for aggregate proceeds of up to $9,716,280. The Upsized Financing is comprised of flow-through common shares (the “FT Shares”) and charity flow-through common shares (the “CFT Shares”). Up to 16,200,000 FT Shares will be offered at $0.41 per FT Share for aggregate proceeds of up to $6,642,000. And up to 6,800,000 CFT Shares will be offered at a price of $0.452 per CFT Share for aggregate proceeds of up to $3,074,280. 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 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 Financing may be payable to eligible arm’s length persons with respect to certain subscriptions accepted by the Company. The Upsized Financing is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange (the “Closing”). All the securities issued under the Upsized Financing will be subject to a hold period of four months and one day.
The Company is pleased to announce that in connection with the Upsized Financing, 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. Centerra will purchase 2,305,000 common shares issued under the charity flow-through portion of the financing.
The Company is also pleased to announce that Alamos Gold Inc. (“Alamos“) will purchase 2,410,000 common shares issued under the charity flow-through portion of the financing. Alamos currently holds an aggregate of 23,003,326 common shares of the Company, representing a security holding percentage of 10.46%. At Closing, Alamos will hold an aggregate of 25,413,326 common shares of the Company maintaining its 10.46% ownership of the outstanding shares of the Company.
The gross proceeds of the Upsized Financing will be used to fund additional drilling and exploration on the Company’s 90,000-hectare property in Northwestern Ontario. An amount equal to the gross proceeds from the issuance of the FT Shares and the CFT Shares will be used to incur eligible resource exploration expenses which will qualify as (i) “Canadian exploration expenses” (as defined in the Tax Act), (ii) as “flow-through mining expenditures” (as defined in subsection 127(9) of the Tax Act); and as “eligible Ontario exploration expenditures” within the meaning of the Ontario Tax Act.
The Company anticipates that insiders may subscribe for CFT Shares. The issuance of CFT Shares to insiders is considered a related party transaction subject to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions. The Company intends to rely on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(b) and 5.7(b) of Multilateral Instrument 61-101.
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 Corp. is an exploration company focused on the discovery of high-grade gold mineralization listed on the TSX Venture Exchange (“DRY”) and traded on the OTCQX (“DRYGF”), Frankfurt Stock Exchange (“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. Dryden Gold acknowledges all Indigenous Peoples and that it is operating on the traditional homelands of the Wabigoon Lake Ojibway Nation and Eagle Lake First Nation. Dryden Gold’s 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 First Nations support and proximity to an experienced mining workforce.
For more information go to our website www.drydengold.com.
CONTACT INFORMATION
Trey Wasser, CEO
Email: twasser@drydengold.com
Phone: 940-368-8337
Maura Kolb, M.Sc. P. Geo., President
Email: mjkolb@drydengold.com
Ashley Robinson, Director of Corporate Communications
Email: ir@drydengold.com
Phone: 604-764-7493
Social: Linktree
Website: www.drydengold.com
X: @DrydenGold
Cautionary Note Regarding Forward-Looking Statements
The information contained herein contains “forward-looking statements” within the meaning of applicable securities legislation. Forward-looking statements include, but are not limited to, statements with respect to future development plans; future acquisitions; exploration programs; and the business and operations of Dryden Gold. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be “forward-looking statements.” Forward-looking statements are subject to a variety of risks and uncertainties which could affect actual events or results to differ from those reflected in the forward-looking statements including, the potential for delays in exploration or development activities; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company’s prospects, properties and business detailed elsewhere in Dryden Gold’s and the Company’s disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are conditioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and Dryden Gold and the Company do not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from Dryden Gold’s and the Company’s expectations or projections.
UNITED STATES ADVISORY
The securities referred to herein have not been and will not be registered under the Shared States Securities Act of 1933, as amended (the “U.S. Securities Act”), have been offered and sold outside the Shared States to eligible investors pursuant to Regulation S promulgated under the U.S. Securities Act, and may not be offered, sold, or resold in the Shared States or to, or for the account of or benefit of, a U.S. Person (as such term is defined in Regulation S under the Shared States Securities Act) unless the securities are registered under the U.S. Securities Act, or an exemption from the registration requirements of the U.S. Securities Act is available. Hedging transactions involving the securities must not be conducted unless in accordance with the U.S. Securities Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in the state in the Shared States in which such offer, solicitation or sale would be unlawful.
