Business
Tudor Gold Closes Oversubscribed $2.3 Million Financing Including an Additional $1 Million Strategic Investment by Eric Sprott
Vancouver, British Columbia--(Newsfile Corp. - June 7, 2019) - Tudor Gold Corp. (TSXV: TUD) (F...
About this update from Tudor Gold Corp.
[{"type":"text","content":"Tudor Gold Closes Oversubscribed $2.3 Million Financing Including an Additional $1 Million Strategic Investment by Eric SprottVancouver, British Columbia--(Newsfile Corp. - June 7, 2019) - Tudor Gold Corp. (TSXV: TUD) (FSE: TUC) (OTC: TDRRF) (the \"Company\" or \"Tudor Gold\") is pleased to announce that it has closed its non-brokered private placement (the \"Offering\") of flow-through units of the Company (\"FT Units\") and non-flow-through units of the Company (\"Non-FT Units\"), originally announced in the Company's press releases dated May 28, 2019 and June 5, 2019, for aggregate gross proceeds to the Company of $2,302,135. The Company has issued an aggregate of 5,625,000 FT Units at a purchase price of $0.32 per FT Unit, for gross proceeds of $1,800,000 and 1,673,784 Non-FT Units at a purchase price of $0.30 per Non-FT Unit, for gross proceeds of $502,135. For further details on the FT Units and the Non-FT Units, please see the Company's press releases dated May 28, 2019 and June 5, 2019.The proceeds from the sale of the FT Units will be used to fund Company's 2019 Treaty Creek and other exploration plans at Tudor Gold's projects in British Columbia's Golden Triangle. The proceeds from the Non-FT Units will be used for general corporate working capital purposes.All securities to be issued pursuant to the Offering will be subject to a four month hold period ending on October 7, 2019, in accordance with applicable Canadian securities laws, in addition to any other restrictions applicable under the policies of the TSX Venture Exchange or securities laws of jurisdictions outside Canada where the FT Units and Non-FT Units are sold.In connection with the Offering, the Company paid aggregate cash finders' fees to qualified finders of $132,800, representing 6% of the gross proceeds in respect of certain subscriptions. The Company also issued 222,500 non-transferable finders' warrants to qualified finders, with each finders' warrant being exercisable to acquire one common share of the Company (a \"Common Share\") at an exercise price of $0.32 until June 6, 2021.The securities issued pursuant to the Offering have not been nor will they be registered under the United States Securities Act of 1933, as amended, or state securities laws, and may not be offered or sold in the United States or to an account for the benefit of US persons, ...