VANCOUVER, BC, September 30, 2021 – Tudor Gold Corp. (TSXV: TUD) (Frankfurt: TUC) (the “Company” or “Tudor” or “Tudor Gold“) is pleased to announce that it has entered into a definitive agreement (the “Assignment and Assumption Agreement“) with certain royalty holders (together, the “Assignors“) to acquire the Assignors’ right, title and interest in and to the Amended and Restated Purchase Agreement (the “Royalty Agreement“) pursuant to which the Assignors held, among other rights, a 1.02 % net smelter return on certain key claims of the Treaty Creek Property and a 0.51 % net smelter return on the other claims of the Treaty Creek Property (the “NSR“). In consideration for the assignment and assumption of such rights, Tudor agreed to issue the Assignors an aggregate of 5,000,000 common shares in the capital of Tudor (the “Consideration Shares“). Half of such Consideration Shares shall be subject to the statutory four month and a day restriction on trading and the remaining half of such Consideration Shares shall be subject to a 10-month contractual restriction on trading.
Pursuant to the terms of the Royalty Agreement, American Creek Resources Ltd. (“American Creek“) also held certain buyback rights in respect of the NSR. Tudor is also pleased to announce it has entered into a termination agreement (the “Termination Agreement“) with American Creek. Pursuant to the terms of the Termination Agreement, American Creek agreed to terminate the Royalty Agreement in its entirety in consideration for Tudor’s issuance to American Creek of 100,000 common shares in the capital of Tudor (the “Termination Shares“). The Termination Shares shall be subject to the statutory 4 month and a day restriction on trading.
The Termination Agreement and the Assignment and Assumption Agreement are subject to the approval of the TSX Venture Exchange.
Walter Storm, President and CEO, stated: “With Tudor Gold`s exploration success and the continuing expansion of the Goldstorm Deposit, the termination of the NSR is an important step to minimizing the potential royalties payable on the project.”
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: chris.curran@tudor-gold.com
or
Carsten Ringler
Head of Investor Relations and Communications
Phone: +49 151 55362000
E-Mail: carsten.ringler@tudor-gold.com
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.
Cautionary Statements regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. “Forward-looking information” includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including the completion and anticipated results of planned exploration activities. Generally, but not always, forward-looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof.
Such forward-looking information and statements are based on numerous assumptions, including among others, that the Company’s planned exploration activities will be completed in a timely manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.
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.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.
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.
