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Dryden Gold Completes $3.38 Million Non-Brokered Private Placement and Strategic Investment by Centerra Gold
CGAUCenterra Gold (CGAU) Newsfile·2024-12-18 13:00

Core Viewpoint - Dryden Gold Corp. has successfully completed a C3.38millionnonbrokeredprivateplacement,withCenterraGoldacquiringapproximately9.93.38 million non-brokered private placement, with Centerra Gold acquiring approximately 9.9% of the company's common shares [2][3][4]. Group 1: Private Placement Details - The private placement involved the issuance of 14,930,000 common shares, including 11,988,824 charity flow-through common shares at a price of C0.24 each and 2,941,176 hard dollar common shares at a price of C0.17each,resultingintotalproceedsofC0.17 each, resulting in total proceeds of C3,377,317 [3][4]. - Centerra Gold was the end purchaser of all common shares issued in the offering, and no finder's fees were paid [4]. Group 2: Use of Proceeds - The proceeds from the offering will be allocated to advance exploration activities at Dryden Gold's 70,000-hectare property located in northwest Ontario [5]. Group 3: Strategic Partnership - Dryden Gold and Centerra Gold have entered into an investor rights agreement, granting Centerra certain rights to participate in future equity issuances to maintain its ownership stake in the company [3][4].