Vancouver, British Columbia--(Newsfile Corp. - May 30, 2024) - Dryden Gold Corp. (TSXV: DRY) (OTCQB: DRYGF) ("Dryden Gold" or the "Company") is pleased to announce that is has qualified for trading on the OTCQB Marketplace (the "OTCQB") in the United States operated by the OTC Markets Group Inc. The Company's common shares commenced trading today on the OTCQB under the symbol 'DRYGF'. The Company's shares have also been approved for DTC eligibility in the US. Dryden's common shares will continue to trade on the TSX Venture Exchange under the symbol "DRY". DTC eligibility and method of clearing securities streamlines the process of trading, enabling the stock to be traded over a much wider selection of brokerage firms throughout the OTC Capital Markets in the US by coming into compliance with their requirements.
"We are excited to expand our listing and trading to the US markets. The US markets will provide additional liquidity and let us reach a larger shareholder base. We will now focus additional marketing efforts to US investors including conferences, road shows and analyst coverage," commented Trey Wasser, Dryden Gold's CEO.
MARKET MAKING SERVICES
Further to its news release of April 22, 2024, the Company has engaged the services of Insight Capital Partners Inc. ("Insight") of Toronto, Ontario and it's market making service provider, ICP Securities Inc. ("ICP") (the "Engagements") effective April 19, 2024.
Pursuant to an agreement (the "Consulting Agreement") between the Company and Insight, Insight will provide capital markets consulting services, including providing the Company with advice and information regarding trading activity, for a term of 24 months, provided that after a period of four (4) months either party may terminate the Consulting Agreement on 30 day's notice.
In addition, pursuant to an agreement (the "Market Making Agreement") between the Company and ICP, the Company has engaged ICP to provide market making services. As previously announced, ICP will provide automated market making services, including use of its proprietary algorithm, ICP Premium™, in compliance with the policies and guidelines of the TSX Venture Exchange and applicable securities laws. The Market Making Agreement is for an initial term of four (4) months (the "Initial Term") and shall be automatically renewed for subsequent one (1) month terms (each month called an "Additional Term") unless either party provides at least thirty (30) days written notice prior to the end of the Initial Term or an Additional Term, as applicable.
Pursuant to the Consulting Agreement the Company will pay Insight an aggregate monthly consulting fee of $10,000 inclusive of $7,500, which Insight will pay to ICP in payment of ICP's monthly service fee for acting as market maker pursuant to the Market Making Agreement.
As previously disclosed, there are no performance factors contained in the Consulting Agreement or the Market Making Agreement and no stock options or other compensation are being granted in connection with the Engagements. Both Insight and ICP are at arm's length to the Company. Insight, ICP and their respective clients may acquire an interest in the securities of the Company in the future.
ICP's market making activities will be primarily to correct temporary imbalances in the supply and demand of the Company's shares. ICP will be responsible for the costs it incurred in buying and selling the Company's shares, and no third party will be providing funds or securities for the market making activities. The Company's engagement of ICP remains subject to the approval of the TSX Venture Exchange.
Pursuant to its press release dated January 16, 2024, the Company has terminated its Market Maker agreement with PIU Financial Corp. effective May 30, 2024.
ABOUT ICP SECURITIES INC.
ICP Securities Inc. (ICP) is a Toronto based CIRO dealer-member that specializes in automated market making and liquidity provision, as well as having a proprietary market making algorithm, ICP Premium™, that enhances liquidity and quote health. Established in 2023, with a focus on market structure, execution, and trading, ICP has leveraged its own proprietary technology to deliver high quality liquidity provision and execution services to a broad array of public issuers and institutional investors.
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"). 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 & 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 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
Ashley Robinson, Investor Relations
Email : arobinson@drydengold.com
Phone : 604-764-7493
X : @DrydenGold
Maura Kolb, M.Sc.. P. Geo., President
Email: mjkolb@drydengold.com
Phone: 807-632-2368
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.
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, the engagement of ICP and Insight and proposed market making activities; future development plans; general market conditions affecting junior exploration companies listed on Canadian stock exchanges, 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 regulatory approvals, 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; 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/211107
