Tudor Gold Closes $9.6 Million Private Placement with Joint Venture Partner Teuton Resources Corp.
Vancouver, British Columbia--(Newsfile Corp. - April 27, 2021) - Tudor Gold Corp. (TSXV: TUD) (FSE: TUC) (the "Company" or "Tudor Gold") is pleased to announce that the Company has completed a non-brokered private placement of 1,000,000 flow-through common shares (the "FT Shares") at a price of $3.60 per FT Share and 2,000,000 non-flow-through common shares (the "NFT Shares") at a price of $3.00, for aggregate gross proceeds of $9,600,000 (the "Private Placement") with the Company's joint venture partner Teuton Resources Corp. (TSXV: TUO) ("Teuton").
Walter Storm, President and CEO of Tudor Gold, stated: "This significant equity investment by Teuton, our 20% partner in Treaty Creek, is a very strong endorsement of both Tudor Gold and the Treaty Creek project. We are pleased that our partner Teuton and their President and CEO Dino Cremonese have so much confidence in the Treaty Creek project and in Tudor Gold as the operator of the Treaty Creek project. This is a very exciting time for Tudor Gold and its shareholders, as Tudor Gold prepares to aggressively advance the Treaty Creek project. Tudor Gold is very eager to begin this year`s exploration program at Treaty Creek and will provide shareholders with regular updates as exploration at the Project develops."
Net proceeds of the Private Placement will be used to advance exploration of the Treaty Creek Project as well as for general working capital purposes.
All securities issued pursuant to the Private Placement are subject to a statutory four-month hold period. No finder's fees were paid in connection with the Private Placement. The Private Placement is subject to receipt of final approval of the TSX Venture Exchange.
The securities being offered under the private placement 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 within the United States or to, or for the account or benefit of, U.S. persons absent U.S. federal and state registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.
About Tudor Gold
Tudor Gold is a precious and base metals explorer with properties in British Columbia's Golden Triangle, an area that hosts producing and past-producing mines and several large deposits that are approaching potential development. The 17,913 hectare Treaty Creek Project (in which Tudor Gold has a 60% interest) borders Seabridge Gold Inc.'s KSM Property to the southwest and borders Pretium Resources Inc.'s Brucejack Property to the southeast. The Company also holds 100% interest in the Electrum Project, earn in options and 100% interests in other prospective projects located in the Golden Triangle area.
Teuton owns interests in more than thirty properties in the prolific Golden Triangle area of northwest British Columbia and was one of the first companies to adopt what has since become known as the "prospect generator" model. Ten of these properties are currently under option to third parties.
ON BEHALF OF THE BOARD OF DIRECTORS OF
TUDOR GOLD CORP.
President and Chief Executive Officer
For further information, please visit the Company's website at www.tudor-gold.com or contact:
Head of Corporate Development and Communications
Phone: (604) 559 8092
Head of Investor Relations and Communications
Phone: +49 151 55362000
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.
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