Dryden Gold Receives Notice of Top-Up Right from Centerra Gold
Dryden Gold Receives Notice of Top-Up Right
from Centerra Gold
Vancouver, British Columbia--(Newsfile Corp. - April 23, 2025) -
Dryden Gold Corp. (TSXV: DRY)
(OTCQB: DRYGF)
("
Dryden Gold
" or the "
Company
") announces that, further to the investor rights
agreement dated December 17, 2024, (the "
Centerra IRA
") between the Company and Centerra Gold
Inc.
(TSX: CG) (NYSE: CGAU)
("
Centerra
"), 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, 2025. The share issuances were related to warrant exercises, certain
option payments and the Company's final property payment to Alamos Gold Inc (NYSE: AGI) (see press
release dated March 18, 2025).
An aggregate of 1,087,295 common shares will be issued to Centerra at a price of $0.1350 per share
for aggregate consideration of $146,784.83 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 proceeds from the Offering will be used to advance exploration at Dryden Gold's 70,000-hectare
property in northwest Ontario and 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 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:
X:
@DrydenGold
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: receipt of corporate and regulatory approvals, issuance of common shares; future development plans;
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 offering; 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.
UNITED STATES ADVISORY.
The securities referred to herein have not been and will not be
registered under the United States Securities Act of 1933, as amended (the "
U.S. Securities Act
"),
have been offered and sold outside the United 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 United 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
United 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 United States in which such offer,
solicitation or sale would be unlawful.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
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