Dynacor

Canaccord Genuity Acts as Sole Agent to Dynacor on its C$32 Million Upsized Offering of Common Shares

Canaccord Genuity is pleased to announce that on January 30, 2025, its client Dynacor Group Inc. (“Dynacor” or the “Company”) (TSX:DNG) entered into an agreement to offer and sell, on a best efforts agency basis, 3,636,400 common shares at a price of C$5.50 per share, for gross proceeds of C$20,000,200 (the “Offering”), which was subsequently upsized to C$27,500,000.

The over-allotment option was exercised in full, and the Company will receive additional gross proceeds of C$4,125,500, for aggregate gross proceeds of C$31,625,000. The offering closed on February 6, 2025.

Dynacor is a dividend-paying industrial gold ore processor headquartered in Montréal, Canada. The Company is engaged in gold production through the processing of ore purchased from the ASM (artisanal and small-scale mining) industry. Dynacor operates in Peru where its management and processing teams have decades of experience working with ASM miners. It also owns a gold exploration property (Tumipampa) in the Apurimac department.

The Company intends to use the net proceeds of the Offering mainly for the construction and development of a new ore processing plant in Sénégal, secondly for preparatory construction work on additional processing plants in Africa, other opportunities in Latin America, as well as for working capital and for general corporate purposes.