Tudor Gold Announces $7.0 Million Brokered Private Placement of Common Shares and Flow-Through Shares

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[{"type":"text","content":"Tudor Gold Announces $7.0 Million Brokered Private Placement of Common Shares and Flow-Through SharesVancouver, British Columbia--(Newsfile Corp. - October 7, 2021) - Tudor Gold Corp. (TSXV: TUD) (the \"Company\") is is pleased to announce that it has entered into an agreement with Research Capital Corporation, as lead agent and sole bookrunner (the \"Agent\"), on behalf of a syndicate, in connection with a best efforts, private placement offering (the \"Offering\") for aggregate gross proceeds of $7,000,000 in a combination of: (i) common shares of the Company (each, a \"Common Share\") at a price of $2.10 per Common Share and (ii) and flow-through common shares of the Company that will qualify as a \"flow-through share\" within the meaning of subsection 66(15) the Income Tax Act (Canada) (the \"Tax Act\") (each, a \"FT Common Share\") at a price of $2.50 per FT Common Share.The net proceeds from the sale of Common Shares will be used for its ongoing exploration drilling program, working capital requirements and other general corporate purposes. The net proceeds from the sale of FT Common Shares 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 under the Tax Act to qualify as CEE. The Company will renounce such CEE to the purchasers of the FT Common Shares with an effective date of no later than December 31, 2022.The Agent will have an option (the \"Over-Allotment Option\") to offer for sale up to an additional 15% of the number of Common Shares and FT Common Shares sold in the Offering, which Over-Allotment Option is exercisable, in whole or in part, at any time up to 48 hours prior to the closing of the Offering.The Common Shares and FT Common Shares to be issued under the Offering will be offered by way of private placement in each of the provinces of Canada, and such other jurisdictions as may be determined by the Company, in each case, pursuant to applicable exemptions from the prospectus requirements under applicable securities laws.The Offering is scheduled to close on or about the week of November 1, 2021, or such other date as agreed upon between the Compan...

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