Dryden Gold issues round of Stock Options and inks Marketing Agreement
Dryden Gold Corp. has granted an aggregate of 2,900,000 incentive stock options under the Company's stock option plan to management, board of directors, employees, strategic advisors and consultants of the Company. The options are exercisable at a price of $0.12 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 for management and will vest quarterly over one year for the independent directors.
Bunt Capital
The Company is pleased to announce that, subject to TSX Venture Exchange approval, it has engaged Bunt Capital Corporation ("Bunt"), a full- service marketing and consulting services company focused on the junior metals and mining sector. Bunt will communicate directly with existing shareholders, analysts and prospective investors. Under the terms of the Bunt engagement agreement (the "Bunt Agreement"), the Company has agreed to pay Bunt $15,000 per month over the 6-month initial term of the Bunt Agreement. A total of 200,000 stock options of shares of Dryden Gold Corp. are included in the terms of the Bunt Agreement. The options will be exercisable for 5 years at a price of $.12 and will vest quarterly over one year. Bunt may from time to time acquire or dispose of securities of the Company through the market, privately or otherwise, as circumstances or market conditions warrant. Bunt has also agreed to the Company's insider trading policy and will observe the Company's trading blackouts. Bunt and its affiliates are at arm's length to Dryden Gold Corp. and has no other relationship with Dryden Gold Corp., except pursuant to the Bunt Agreement. The Bunt Agreement is subject to the approval of the TSX Venture Exchange.
Concept Capital
The Company has also retained Concept Capital Management LTD to develop an extensive European marketing strategy for the Company. Concept will provide the Company with a source of knowledge of the structure and form of the investment community in Europe providing advice on developing a strategic marketing plan specifically tailored for the investment community in Europe and sourcing and selecting service providers to give effect to the strategic marketing plan. Under the terms of the engagement agreement (the "Concept Agreement"), the Company has agreed to pay $50,000 for a 6-month initial term. A total of 200,000 stock options of shares of Dryden Gold Corp. are included in the terms of the Concept Agreement. The options will be exercisable for 5 years at a price of $.12 and will vest quarterly over one year.
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.
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