Dryden Gold Corp Makes Final Property Payment to Alamos Gold
Dryden Gold Corp Makes Final Property
Payment to Alamos Gold
Vancouver, British Columbia--(Newsfile Corp. - March 18, 2025) -
Dryden Gold Corp. (TSXV: DRY)
("
Dryden Gold
" or the "
Company
") is pleased to announce that it has notified Alamos Gold Inc.
("Alamos") (NYSE: AGI) that the Company has fulfilled its remaining obligations under the Option
Agreement, dated April 20, 2022, between Dryden Gold and Manitou Gold Inc., a wholly owned
subsidiary of Alamos. (the "Option Agreement").
Under the terms of the Option Agreement, Dryden Gold has paid Alamos a total of $2,000,000 payable
as to $1,000,000 in cash and has issued an aggregate of 8,568,980 common shares (the "Shares") (the
"Share Issuance") at a deemed price of $0.1167 per share to Alamos to satisfy the remaining
$1,000,000 on its Dryden Gold Property located in Northwest Ontario (the "Dryden Property"). The
Shares were issued based on twenty days of trading in the Company's stock on a volume-weighted
basis (the "20-day VWAP") for the period ending March 12, 2025. The proposed Share Issuance was
previously disclosed in the Company's TSXV Form 3D2 Filing Statement dated December 27, 2023,
(the "Filing Statement") a copy of which was filed under the Company's profile at www.sedarplus.ca on
December 27, 2023. Please refer to the Filing Statement for a detailed description of the Dryden Option
Agreement and the Dryden Property. All of the Shares will be subject to a hold period of four months and
one day from the date of issuance.
Dryden Gold has also completed the required $1,400,000 in firm work commitments on the Dryden
Property and will now own a 100% legal and beneficial interest to the Dryden Property subject to a 1%
Net Smelter Returns ("NSR") royalty to Alamos and other permitted encumbrances.
Prior to the Share Issuance, Alamos holds an aggregate of 14,434,346 common shares of the
Company, representing a security holding percentage of 9.58%. After the Share Issuance, Alamos will
hold an aggregate of 23,003,326 common shares of the Company representing 14.44% of the
outstanding shares of the Company making them Dryden Gold's largest single shareholder.
EARLY WARNING REPORT BY ALAMOS GOLD INC.
An early warning report in respect of the
Share Issuance will be filed in accordance with applicable
securities laws and will be available on Dryden's SEDAR+ profile at
www.sedarplus.ca
.To obtain a copy
of the early warning report, once filed, please contact Alamos at Brookfield Place, 181 Bay Street, Suite
3910, Toronto, Ontario, M5J 2T3, Attention: Scott K. Parsons, 416-368-9932 x 5439.
Alamos advises that it is not aware of any plans nor has it any future intentions which relate to or result in
any of items referred to in paragraphs 5 (a) to (k) of the early warning report, except pursuant to the
Option Agreement whereby Alamos may receive additional common shares of the Company. In
accordance with applicable securities laws, Alamos may, from time to time, acquire additional shares
and/or other equity, debt or other securities or instruments (collectively, "Securities") of the Company in
the open market or otherwise, and reserves the right to dispose of any or all of its Securities in the open
market or otherwise at any time and from time to time, and to engage in similar transactions with respect
to the Securities, the whole depending on market conditions, the business and prospects of the
Company and other relevant factors.
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 on the OTCQB marketplace ("DRYGF").
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'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 collaborative relationships with First
Nations communities and benefits from proximity to an experienced mining workforce.
For more information go to our website
www.drydengold.com
.
CONTACT INFORMATION
Trey Wasser, CEO
email :
phone : 940-368-8337
Ashley Robinson, Investor Relations
Email :
Phone : 604-764-7493
Maura Kolb, M.Sc.. P. Geo., President
Email:
Phone: 807-632-2368
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 : the acquisition of the Property, receipt of corporate and regulatory approvals, issuance of common
shares; 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 cause actual events or
results to differ from those reflected in the forward-looking statements, including, without limitation: risks
related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to
the outcome of legal proceedings; political and regulatory risks associated with mining and exploration;
risks related to the maintenance of stock exchange listings including receipt of TSX Venture Exchange
approval for the acquisition
of the Property; risks related to environmental regulation and liability; 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 cautioned 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.
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https://www.newsfilecorp.com/release/245082