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Tudor Gold Announces Closing of $12.9 Million Brokered Private Placement Offering, with Participation by Eric Sprott
Vancouver, British Columbia--(Newsfile Corp. - April 6, 2022) - Tudor Gold Corp. (TSXV: TUD)...
About this update from Tudor Gold Corp.
[{"type":"text","content":"Tudor Gold Announces Closing of $12.9 Million Brokered Private Placement Offering, with Participation by Eric SprottVancouver, British Columbia--(Newsfile Corp. - April 6, 2022) - Tudor Gold Corp. (TSXV: TUD) (the \"Company\") is pleased to announce that further to its news release dated March 10, 2022, it has closed its previously announced brokered private placement offering (the \"Offering\"), with a non-brokered portion of the offering (the \"Non-Brokered Portion\") for aggregate gross proceeds to the Company of approximately $12.9 million. The Offering was led by Research Capital Corporation as the lead agent and sole bookrunner, on behalf of a syndicate of agents, including, PI Financial Corp., Roth Canada, ULC, and Canaccord Genuity Corp. (collectively, the \"Agents\"). In connection with the Offering and the Non-Brokered Portion, the Company issued: 2,942,500 units of the Company (the \"Units\") at a price of $2.00 per Unit. Each Unit consists of one common share of the Company (a \"Common Share\") and one-half of one Common Share purchase warrant (each whole warrant, a \"Warrant\"); and2,914,678 flow-through units of the Company (the \"FT Units\") at a price of $2.40 per FT Unit. Each FT Unit consists of one Common Share that will qualify as \"flow-through shares\" within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the \"Tax Act\") (each, a \"FT Common Share\") and one-half of one Warrant.Each Warrant entitles the holder thereof to purchase one Common Share (a \"Warrant Share\") at an exercise price of $2.80 per Warrant Share at any time up to 24 months from April 6, 2022 (the \"Closing Date\").Eric Sprott, through 2176423 Ontario Ltd, a corporation beneficially owned by him, subscribed for 1,250,000 Units in the Offering for gross proceeds of $2.5 million to the Company. The net proceeds from the sale of Units will be used for the Company's ongoing exploration drilling program, working capital requirements and other general corporate purposes. The gross proceeds from the sale of FT Units will be used to incur eligible \"Canadian exploration expenses\" (\"CEE\") that are \"flow-through mining expenditures\" (as such term is defined in the Tax Act) related to exploration expenses on the Company's Treaty Creek flagship property, located in Golden Triangle of northwestern British Columbia, as permitted...