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Tudor Gold Announces Upsize of Amended Private Placement Financing to $8 Million and Amendment to Arrangement Agreement
Vancouver, British Columbia--(Newsfile Corp. - August 30, 2022) - Tudor Gold Corp. (TSXV:TUD...
About this update from Tudor Gold Corp.
[{"type":"text","content":"Tudor Gold Announces Upsize of Amended Private Placement Financing to $8 Million and Amendment to Arrangement AgreementVancouver, British Columbia--(Newsfile Corp. - August 30, 2022) - Tudor Gold Corp. (TSXV:TUD) (the \"Company\" or \"Tudor Gold\") is pleased to announce that, due to strong investor demand, it has agreed to increase the size of its previously announced best efforts, brokered private placement offering (the \"Offering\") to up to $8,000,000 in gross proceeds and that it has amended the terms of the Offering. The Offering is led by Research Capital Corporation, as lead agent and sole bookrunner, on behalf of a syndicate of agents, including Canaccord Genuity Corp. and Roth Canada Inc. (collectively, the \"Agents\"). Pursuant to the amended terms, the Offering will consist of a combination of securities (the \"Offered Securities\"): a. conventional units (each, a \"Conventional Unit\") at a price of $1.25 per Conventional Unit. Each Conventional Unit will consist of (i) a special warrant (a \"Special Warrant\") 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 common share of the Company (a \"Common Share\"), and (ii) one-half of one Common Share purchase warrant (each whole warrant, a \"Warrant\");b. flow-through units (each, an \"FT Unit\") at a price of $1.45 per FT Unit. Each FT Unit will consist of (i) a Special Warrant, and (ii) one-half of one Warrant. The Special Warrants and Warrants comprising the FT Units will each qualify as a \"flow-through share\" within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the \"Tax Act\"); andc. charity flow-through units (each a \"Charity FT Unit\") at a price of $1.77 per Charity FT Unit. Each Charity FT Unit will consist of (i) a Special Warrant, and (ii) one-half of one Warrant. The Special Warrants and Warrants compromising the Charity FT Units will each qualify as a \"flow-through share\" within the meaning of subsection 66(15) of the Tax Act and will be issued as part of a charity arrangement. Each whole Warrant will entitle the holder thereof to purchase one Common Share (a \"Warrant Share\") at an exercise price of $1.75 per Warrant Share at any time during the period commencing at the time the Special Warrants are exercised (as described bel...