Dryden Gold Corp. Amends Grant of Stock Options

Rhea-AI Summary

Dryden Gold Corp. (TSXV: DRY, OTCQB: DRYGF) has amended its stock option grant announced on June 11, 2024. The number of incentive stock options granted has been reduced from 2,500,000 to 2,250,000. These options are awarded to the company's management, board of directors, strategic advisors, investor relations service providers, and consultants. The terms remain unchanged: exercisable at $0.14 per share for 10 years, with options vesting 20% on the grant date and 20% every six months over two years.

Positive

• Stock options granted at $0.14 per share, providing potential financial benefits if the share price rises.
• Options vest over two years, aligning management and key personnel with long-term company performance.

Negative

• Reduction of stock options from 2,500,000 to 2,250,000 may indicate internal reassessment of incentives.

Vancouver, British Columbia--(Newsfile Corp. - June 27, 2024) - Dryden Gold Corp. (TSXV: DRY) (OTCQB: DRYGF) ("Dryden Gold" or the "Company") announces that it has amended its stock option grant, previously announced on June 11, 2024, to reduce the total number of incentive stock options granted from 2,500,000 to an aggregate of 2,250,000 incentive stock options. The incentive stock options are granted under the Company's stock option plan to management, board of directors, strategic advisors, investor relations service providers and consultants of the Company. The terms of the stock options remain unchanged and are exercisable at a price of $0.14 per share for a period of 10 years from the date of grant. The options will vest 20% on the date of grant and 20% every six months thereafter for a total period of two years.

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 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

Maura Kolb, M.Sc.. P. Geo., President
Email: mjkolb@drydengold.com
Phone: 807-632-2368

Ashley Robinson, Investor Relations
Email: ir@drydengold.com
X: @DrydenGold

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 : the acquisition of the Property, receipt of corporate and regulatory approvals, issuance of options and 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/214691

FAQ

What changes were made to Dryden Gold's stock option grant on June 27, 2024?

Dryden Gold reduced its stock option grant from 2,500,000 to 2,250,000 options.

Who is eligible for Dryden Gold's amended stock options?

Management, board of directors, strategic advisors, investor relations service providers, and consultants.

What are the terms of Dryden Gold's amended stock options?

Options are exercisable at $0.14 per share for 10 years, vesting 20% on grant date and every six months over two years.

When was Dryden Gold's amended stock option grant announced?

The amendment was announced on June 27, 2024.

What is the stock symbol for Dryden Gold Corp.?

The stock symbols are TSXV: DRY and OTCQB: DRYGF.