Business
Tudor Gold Announces Closing of $2,983,550 Non-Brokered Private Placement Including Strategic Investment by Mr. Eric Sprott
Vancouver, British Columbia--(Newsfile Corp. - March 19, 2019) - Tudor Gold Corp. (TSXV: TUD) ...
About this update from Tudor Gold Corp.
[{"type":"text","content":"Tudor Gold Announces Closing of $2,983,550 Non-Brokered Private Placement Including Strategic Investment by Mr. Eric SprottVancouver, British Columbia--(Newsfile Corp. - March 19, 2019) - Tudor Gold Corp. (TSXV: TUD) (FSE: TUC) (the \"Company\" or \"Tudor Gold\") is pleased to announce that the Company has completed its previously announced non-brokered private placement, which closed with the sale at 11,934,200 units (the \"Units\") at a price of $0.25 per Unit, for aggregate gross proceeds of $2,983,550 (the \"Offering\"). Each Unit consists of one common share and one transferable common share purchase warrant (each, a \"Warrant\"). Each Warrant entitles the holder to purchase one additional common share of the Company at an exercise price of $0.40 for a period of one year from closing of the Offering, provided that commencing on the date that is four months and one day after closing of the Offering, if the closing price of the Company's common shares on the TSX Venture Exchange, or any other stock exchange on which the Company's common shares are primarily listed, is at a price greater than $1.00 per share for a period of ten (10) consecutive trading days, the Company will have the right to accelerate the expiry date of the Warrants by giving written notice to the holders of the Warrants that the Warrants will expire on the date that is not less than 30 days from the date of such notice.The proceeds from the sale of the Units will be used to reduce liabilities and improve the Company's working capital, for general corporate purposes and to advance exploration of the Company's mineral properties in the Golden Triangle of northwestern B.C. In connection with the Offering, the Company paid aggregate cash finder's fees of $103,395 to certain third-party finders who introduced subscribers to the Offering.All of the common shares, Warrants and any common shares issued upon exercise of the Warrants are subject to a hold period until July 20, 2019, except as permitted by applicable Canadian securities laws and the TSX Venture Exchange.Strategic Investment by Mr. Eric Sprott Pursuant to the Offering, Mr. Eric Sprott, through 2176423 Ontario Ltd., a corporation which is beneficially owned by him, acquired 6,000,000 Units for a total consideration of $1,500,000. Following the completion of the private placement, Mr. Sprott's holdings r...