Tudor Gold Announces $6.0 Million Private Placement Closes First Tranche Consisting of $1.5M Flow Through Financing at $3.60 per Share
Tudor Gold Announces $6.0 Million Private
Placement
Closes First Tranche Consisting of $1.5M Flow Through
Financing at $3.60 per Share
Vancouver, British Columbia--(Newsfile Corp. - June 22, 2021) - Tudor Gold Corp. (TSXV:
TUD
)
(Frankfurt:
TUC
) (the "
Company
" or "
Tudor Gold
") is pleased to announce the Company intends to
complete a non-brokered private placement consisting of 555,555 flow-through common shares (the "
FT
Shares
") at a price of $3.60 per FT Share and 1,333,334 non-flow-through common shares (the "
NFT
Shares
") at a price of $3.00 per NFT
Share, for aggregate gross proceeds of $6,000,000 (the "
Private
Placement
").
Further to the announcement, Tudor Gold is pleased to report it has closed the first tranche of the Private
Placement through the issuance of 426,500 FT Shares at a price of $3.60 per share for gross proceeds
of approximately $1,535,000.
Net proceeds of the Private Placement will be used to advance exploration of the Treaty Creek Project
as well as for general working capital purposes.
All securities issued pursuant to the Private Placement are subject to a statutory four-month hold period.
The Private Placement is subject to receipt of final approval of the TSX Venture Exchange.
In connection with the closing of the first tranche of the Private Placement, the Company paid certain
finders a cash finder's fee of up to 6% of the gross proceeds from investors introduced to the Company
by such finder and issued an aggregate total of 16,976 non-transferrable finder's warrants to certain
arm's length registered dealers.
Each finder's warrant entitles the holder to acquire one common share
of Tudor Gold for an exercise price of $3.60 per share for a period of 12 months from its issue date.
The securities being offered under the private placement have not been, nor will they be registered under
the United States Securities Act of 1933, as amended, or state securities laws and may not be offered
or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. federal
and state registration or an applicable exemption from the U.S. registration requirements. This release
does not constitute an offer for sale of securities in the United States.
About Tudor Gold
TUDOR GOLD Corp. is a precious and base metals exploration and development company with
properties in British Columbia's Golden Triangle (Canada), an area that hosts producing and past-
producing mines and several large deposits that are approaching potential development. The 17,913
hectare Treaty Creek project (in which TUDOR GOLD has a 60% interest) borders Seabridge Gold
Inc.'s KSM property to the southwest and borders Pretium Resources Inc.'s Brucejack property to the
southeast. In April 2021, Tudor published their 43-101 technical report, "Technical Report and Initial
Mineral Resource Estimate of the Treaty Creek Gold Property, Skeena Mining Division, British
Columbia Canada," dated March 1, 2021 on the Company's Sedar profile. The Company also has a
100% interest in the Crown project and a 100% interest in the Eskay North project, all located in the
Golden Triangle area.
ON BEHALF OF THE BOARD OF DIRECTORS OF
TUDOR GOLD CORP.
"Walter Storm"
Walter Storm
President and Chief Executive Officer
For further information, please visit the Company's website at
www.tudor-gold.com
or contact:
Chris Curran
Head of Corporate Development and Communications
Phone: (604) 559 8092
E-Mail:
or
Carsten Ringler
Head of Investor Relations and Communications
Phone:
+49 151 55362000
E-Mail:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this release.
Cautionary Statements regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian
securities legislation. "Forward-looking information" includes, but is not limited to, statements with
respect to the Company's intention to close the Private Placement on the terms as anticipated by
management, the activities, events or developments that the Company expects or anticipates will or
may occur in the future, including the completion and anticipated results of planned exploration
activities. Generally, but not always, forward-looking information and statements can be identified by
the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of
such words and phrases or state that certain actions, events or results "may", "could", "would", "might"
or "will be taken", "occur" or "be achieved" or the negative connation thereof.
Such forward-looking information and statements are based on numerous assumptions, including
among others, that the Company will close the Private Placement on the terms as anticipated by
management, that the Company's planned exploration activities will be completed in a timely manner.
Although the assumptions made by the Company in providing forward-looking information or making
forward-looking statements are considered reasonable by management at the time, there can be no
assurance that such assumptions will prove to be accurate.
There can be no assurance that such statements will prove to be accurate and actual results and
future events could differ materially from those anticipated in such statements. Important factors that
could cause actual results to differ materially from the Company's plans or expectations include the
risk that the Company will not close the Private Placement on the terms as anticipated by
management or at all, that the TSX Venture Exchange will not provide final approval to close the
Private Placement, risks relating to the actual results of current exploration activities, fluctuating gold
prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of
capital and financing, general economic, market or business conditions, regulatory changes,
timeliness of government or regulatory approvals and other risks detailed herein and from time to
time in the filings made by the Company with securities regulators.
Although the Company has attempted to identify important factors that could cause actual results to
differ materially from those contained in the forward-looking information or implied by forward-looking
information, there may be other factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that forward-looking information and statements will prove to be
accurate, as actual results and future events could differ materially from those anticipated, estimated
or intended. Accordingly, readers should not place undue reliance on forward-looking statements or
information.
The Company expressly disclaims any intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or otherwise except as otherwise
required by applicable securities legislation.
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE
UNITED STATES
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