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Goldstorm Metals, Subsidiary of Tudor Gold, Announces Closing of Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - October 28, 2022) - Tudor Gold Corp. (TSXV: T...
About this update from Tudor Gold Corp.
[{"type":"text","content":"Goldstorm Metals, Subsidiary of Tudor Gold, Announces Closing of Non-Brokered Private PlacementVancouver, British Columbia--(Newsfile Corp. - October 28, 2022) - Tudor Gold Corp. (TSXV: TUD) (\"Tudor Gold\") is pleased to announce that Goldstorm Metals Corp. (\"Goldstorm\" or the \"Company\") has closed a non-brokered private placement (the \"Private Placement\"), raising gross proceeds of $3,900,000.12 through the issuance of:(a) 10,800,812 non-flow-through units of the Company (the \"Non-FT Units\") at an issue price of $0.26 per Non-FT Unit for aggregate gross proceeds of $2,808,211.12. The Non-FT Units are comprised of one common share of the Company (a \"Non-FT Share\"), and one common share purchase warrant (a \"Warrant\");(b) 327,500 flow-through units of the Company (the \"FT Units\", together with the Non-FT Units, the \"Units\") at an issue price of $0.31 per FT Unit for aggregate gross proceeds of $101,525.00. The FT Units are comprised of one common share of the Company (a \"FT Share\"), and one Warrant. The FT Shares and Warrants comprising the FT Units each qualify as a \"flow-through share\" within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the \"Tax Act\"); and(c) 3,194,400 flow-through subscription receipts of the Company (the \"Subscription Receipts\") at an issue price of $0.31 per Subscription Receipt for aggregate gross proceeds of $990,264.00. Each Subscription Receipt which will entitle the holder thereof, without payment of any additional consideration and without further action on the part of the holder, to receive one flow-through unit of the Company (a \"SR Unit\"), with each SR Unit comprised of one common share of the Company (a \"SR Share\") and one Warrant (a \"SR Warrant\"). The SR Shares and the SR Warrants will also each qualify as a \"flow-through shares\" within the meaning of subsection 66(15) of the Tax Act.Each Warrant will entitle the holder thereof to purchase one additional common share of the Company at an exercise price of $0.60 for a period of two (2) years from the date of issuance of the Warrants.Tudor Gold, of which Goldstorm is currently a subsidiary, is seeking to spin out its interest in Goldstorm (which holds six contiguous Golden Triangle Area mineral properties, being the Mackie East, Mackie West, Fairweather, High North, Delta and Orion and Electrum pro...