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Dryden Gold Corp ( (TSE:DRY) ) has shared an update.
Dryden Gold Corp. has successfully closed its upsized non-brokered equity financing, raising $7.82 million through the issuance of 31,721,667 common shares. The funds will be used for additional drilling and fieldwork on the Dryden Gold Property in Ontario, as well as for working capital and administrative expenses. Centerra Gold Inc. has maintained its 9.9% interest in the company by exercising its ‘top-up right.’ This financing is expected to bolster Dryden Gold’s exploration activities and strengthen its position in the gold exploration industry.
More about Dryden Gold Corp
Dryden Gold Corp. is an exploration company focused on discovering high-grade gold mineralization. It is listed on the TSX Venture Exchange and traded on the OTCQB. The company has a strong management team with a history of building shareholder value through property acquisition, exploration success, and mergers and acquisitions. Dryden Gold holds a 100% interest in a strategic land position in the Dryden District of Northwestern Ontario, which includes historic gold mines and high-grade gold mineralization over 50km. The company acknowledges operating on the traditional lands of the Wabigoon Lake Ojibway Nation and Eagle Lake First Nation.
Average Trading Volume: 305,584
Technical Sentiment Signal: Buy
See more insights into DRY stock on TipRanks’ Stock Analysis page.