Tudor Gold Closes $350,000 Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - July 5, 2018) - Tudor Gold Corp. (TSXV: TUD) (FSE: TUC) (the "Company" or "Tudor Gold") is pleased to announce that it has closed a non-brokered private placement under which it has raised gross proceeds of $350,000. The private placement was comprised of 1,000,000 units of the Company (the "Units") at a price of $0.35 per Unit, with each Unit comprised 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 $0.55 for a period of two years.
The proceeds from the sale of the Units will be used to advance exploration of the Company's Treaty Creek properties in the Golden Triangle of northwestern B.C. and for general corporate and working capital purposes.
In connection with the private placement, the Company paid a cash finder's fee of $21,000 (equal to 6% of the gross proceeds of the private placement) and issued 60,000 non-transferable finder's warrants, with each finder's warrant exercisable for a common share of the Company at an exercise price of $0.45 for a period of two years.
All securities issued pursuant to the private placement are subject to a four month hold period under applicable Canadian securities laws.
About Tudor Gold
Tudor Gold is a precious and base metals explorer in British Columbia's Golden Triangle, an area which hosts multiple past-producing mines and several large world-class deposits that are approaching potential development. The Company has a 60% interest in both the Electrum and Treaty Creek properties, and a 100% interest in several other properties located in the Golden Triangle area.
President and Chief Executive Officer
For further information, please visit the Company's website at www.tudor-gold.com or contact:
Chief Financial Officer & Corporate Secretary
CHF Capital Markets
Tel: 416-868-1079 x 231
Cautionary Statements regarding Forward-Looking Information
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially.
All statements including, without limitation, statements relating to the ability to complete the offering on the proposed terms or at all, anticipated use of proceeds from the offering and receipt of regulatory approvals with respect to the offering as well as any other future plans, objectives or expectations of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.