CLOSES FIRST TRANCHE CONSISTING OF $1.5M FLOW THROUGH FINANCING
AT $3.60 PER SHARE
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR
DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC, June 22, 2021 – Tudor Gold Corp. (TSXV: TUD) (Frankfurt: TUC) (the “Company” or “Tudor Gold“) is pleased to announce the Company intends to complete a non-brokered private placement consisting of 555,555 flow-through common shares (the “FT Shares”) at a price of $3.60 per FT Share and 1,333,334 non-flow-through common shares (the “NFT Shares”) at a price of $3.00 per NFT Share, for aggregate gross proceeds of $6,000,000 (the “Private Placement”).
Further to the announcement, Tudor Gold is pleased to report it has closed the first tranche of the Private Placement through the issuance of 426,500 FT Shares at a price of $3.60 per share for gross proceeds of approximately $1,535,000.
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. The Private Placement is subject to receipt of final approval of the TSX Venture Exchange.
In connection with the closing of the first tranche of the Private Placement, the Company paid certain finders a cash finder’s fee of up to 6% of the gross proceeds from investors introduced to the Company by such finder and issued an aggregate total of 16,976 non-transferrable finder’s warrants to certain arm’s length registered dealers. Each finder’s warrant entitles the holder to acquire one common share of Tudor Gold for an exercise price of $3.60 per share for a period of 12 months from its issue date.
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.
ON BEHALF OF THE BOARD OF DIRECTORS OF
TUDOR GOLD CORP.
“Walter Storm”
Walter Storm
President and Chief Executive Officer
For further information, please visit the Company’s website at www.tudor-gold.com or contact:
Chris Curran
Head of Corporate Development and Communications
Phone: (604) 559 8092
E-Mail: [email protected]
or
Carsten Ringler
Head of Investor Relations and Communications
Phone: +49 151 55362000
E-Mail: [email protected]