December 6, 2019
Vancouver, B.C.

TUDOR GOLD Announces Closing of Non-Brokered Private Placement of Flow-Through Shares

Vancouver, BC – December 6, 2019 – Tudor Gold Corp. (TSX.V: TUD) (Frankfurt: TUC) (the “Company” or “Tudor Gold”) is pleased to announce that the Company has closed its previously announced non-brokered private placement consisting of 6,000,000 flow-through common shares (the “FT Shares”) at a price of $0.50 per FT Share (the “Offering“) for aggregate gross proceeds of $3,000,000.

 

The proceeds from the sale of the FT Shares will be used to fund exploration on the Company’s Treaty Creek Project.

 

In connection with the Offering, the Company paid certain finders an aggregate total cash finder’s fee of 6% of the gross proceeds of the Offering and issued an aggregate total of 240,000 non-transferrable finder’s warrants.  Each finder’s warrant entitles the holder to acquire one common share of Tudor Gold for an exercise price of $0.50 per share for a period of two years from closing.

All securities issued pursuant to the Offering is subject to a statutory four-month hold period. The Offering is subject to receipt of final approval of the TSX Venture Exchange.

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 has a 100% interest in the Electrum Project, earn in options and 100% interests in other prospective projects located in the Golden Triangle area.

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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 other than statements of historical fact included in this release, including, without limitation, statements regarding analysis and re-interpretation of data, and potential mineralization and geological merits of the Treaty Creek Project and 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. Forward-looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from Company’s expectations include actual exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements. 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.