DC Director Kevin Puil Amends Form 3; 18,037 Warrants Disclosed

Rhea-AI Filing Summary

Dakota Gold Corp. (DC) reporting person Kevin Puil filed an amended Form 3 to disclose previously omitted warrants. The amendment shows 18,037 warrants exercisable into common stock, issued 03/15/2021 and expiring 03/15/2026, with an exercise price of $2.08. The filing identifies Mr. Puil as a director and is signed by a power of attorney on behalf of the reporting person.

Positive

• Amendment corrects prior omission, improving regulatory compliance and transparency
• Warrants disclosed were issued in 2021 and are already documented with clear exercise price and expiry

Negative

• Initial Form 3 omitted these warrants, indicating a prior reporting error
• Potential dilution exists from 18,037 warrants exercisable into common stock (though magnitude depends on total shares outstanding)

Insights

Corporate Governance Expert

TL;DR: An amended disclosure corrects an omission of warrants; this is a procedural compliance matter with limited investor impact.

The amendment documents 18,037 warrants held directly by the director and clarifies the reporting record. From a governance standpoint, timely and complete Section 16 reporting is important to maintain regulatory compliance and market transparency. The correction reduces disclosure risk but does not indicate change in control, compensation structure, or new dilutive issuance; the warrants were issued in 2021 and simply required inclusion in the initial Form 3.

Securities Analyst

TL;DR: The disclosed warrants represent a modest potential dilution and the amendment primarily addresses an earlier reporting omission.

With 18,037 underlying shares at a $2.08 exercise price and a 2026 expiry, the economic impact is small relative to typical public company floats unless the company has a very small share base. The amendment improves transparency but provides no new operational or financial performance information. Investors should note the correction but it is fundamentally a reporting fix rather than a material corporate event.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Puil Kevin

(Last) (First) (Middle)

C/O DAKOTA GOLD CORP.

106 GLENDALE DRIVE, SUITE 1

(Street)

LEAD SD 57754

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
05/15/2025

3. Issuer Name and Ticker or Trading Symbol
Dakota Gold Corp. [ DC ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)
06/10/2025

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Warrants	03/15/2021	03/15/2026	Common Stock	18,037(1)	$2.08	D

Explanation of Responses:

1. These warrants were omitted from the reporting person's original Form 3.

	/S/ SHAWN CAMBELL, BY POWER OF ATTORNEY	09/02/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

What did the Dakota Gold Corp. (DC) Form 3/A disclose?

The amended Form 3 discloses 18,037 warrants held directly by director Kevin Puil, exercisable into common stock, issued 03/15/2021 and expiring 03/15/2026 at an exercise price of $2.08.

Who is the reporting person on the Form 3/A for DC?

The reporting person is Kevin Puil, listed as a director of Dakota Gold Corp.

Why was a Form 3 amended for Kevin Puil at DC?

The amendment states the warrants were omitted from the original Form 3, and the filing corrects that omission.

When do the disclosed warrants for DC expire and what is the exercise price?

The warrants expire on 03/15/2026 and have an exercise price of $2.08.

Was the Form 3/A signed by the reporting person?

The filing shows a signature executed by power of attorney (/S/ Shawn Cambell) dated 09/02/2025.