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Tudor Gold Announces $4 Million Private Placement Financing
Vancouver, British Columbia--(Newsfile Corp. - November 29, 2023) - Tudor Gold Corp. (TSXV: TUD)...
About this update from Tudor Gold Corp.
[{"type":"text","content":"Tudor Gold Announces $4 Million Private Placement FinancingVancouver, British Columbia--(Newsfile Corp. - November 29, 2023) - Tudor Gold Corp. (TSXV: TUD) (FSE: H56) (the \"Company\" or \"Tudor Gold\") announces that it intends to complete a non-brokered private placement of securities to raise total gross proceeds of up to $4 million (the \"Offering\"). The Offering will be comprised of a combination of: (i) non-flow-through units (the \"NFT Units\") to be sold at a price of $0.90 per NFT Unit; and (ii) flow-through units of the Company (each, a \"FT Unit\") to be sold at a price of $1.05 per FT Unit.Each NFT Unit will consist of one non-flow-though common share of the Company (each, a \"NFT Share\") and one half (½) of one common share purchase warrant (each whole warrant, a \"Warrant\"). Each FT Unit will consist of one common share of the Company to be issued as a \"flow-through share\" within the meaning of the Income Tax Act (Canada), (each, a \"FT Share\") and one half (½) of one Warrant. Each Warrant will entitle the holder to purchase one non-flow-through common share of the Company (each, a \"Warrant Share\") at a price of $1.35 at any time on or before that date which is 24 months after the closing date of the Offering. The exact number of NFT Units and FT Units sold will be determined at closing.The gross proceeds received from the sale of the FT Units is expected to be used for work programs on the Company's Treaty Creek Property and the net proceeds received from the sale of the NFT Units is expected to be used for general working capital purposes.In connection with the Offering, the Company may pay certain finders a fee comprised of cash, finder's warrants, or both, based on the proceeds raised from the sale of securities to purchasers introduced to the Company by such finders. All securities to be issued pursuant to the above referenced Offering will be subject to a statutory four-month hold period. The Offering is subject to regulatory approval, including the approval of the TSXV.About Treaty CreekThe Treaty Creek Project hosts the Goldstorm Deposit, comprising a large gold-copper porphyry system, as well as several other mineralized zones. As disclosed in the \"NI-43-101 Technical Report for the Treaty Creek Project\", dated April 28, 2023 prepared by Garth Kirkham Geosystems and JDS Energy & Min...