Tudor Gold Announces Closing of Non-Brokered Private Placement of Flow-Through Shares
Tudor Gold Announces Closing of Non-Brokered Private
Placement of Flow-Through Shares
Vancouver, British Columbia--(Newsfile Corp. - December 6, 2019) - Tudor Gold Corp. (TSXV: TUD) (FSE: TUC) (the
"
Company
" or "
Tudor
Gold
") is pleased to announce that the Company has closed its previously announced non-brokered
private placement consisting of 6,000,000 flow-through common shares (the "
FT
Shares
") at a price of $0.50 per FT Share (the
"
Offering
") for aggregate gross proceeds of $3,000,000.
The proceeds from the sale of the FT Shares will be used to fund exploration on the Company's Treaty Creek Project.
In connection with the Offering, the Company paid certain finders an aggregate total cash finder's fee of 6% of the gross
proceeds of the Offering and issued an aggregate total of 240,000 non-transferrable finder's warrants.
Each finder's warrant
entitles the holder to acquire one common share of Tudor Gold for an exercise price of $0.50 per share for a period of two years
from closing.
All securities issued pursuant to the Offering is subject to a statutory four-month hold period. The Offering is subject to receipt of
final approval of the TSX Venture Exchange.
About Tudor Gold
Tudor Gold is a precious and base metals explorer with properties in British Columbia's Golden Triangle, 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. The Company also has a 60% interest in
the Electrum project, earn in options and 100% interests in other prospective projects located in the Golden Triangle area.
"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:
Catalin Kilofliski
Director Corporate Development and Communications
Tel. 604-559-8092
Email:
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/50504