TUDOR GOLD Corp. (TSXV: TUD) (FSE: TUC) (the “Company” or “TUDOR GOLD”) is pleased to announce that the Company has reached agreement with Teuton Resources Corp. (“Teuton”) to replace the original option agreements (the “Original Option Agreements”) on the Orion property, the Fairweather property, the Delta property and the High North property (the “Properties”), respectively, in which certain payment terms have been amended, the balance of payments, as well as all other terms of the Original Option Agreements remain as set out in the Original Option Agreements.
Pursuant to the amended payment terms of the Original Option Agreements, and subject to TSX Venture Exchange (the “Exchange“) approval, the Company will issue an aggregate of 1,800,000 common shares (the “Shares“) at $0.30 per Share to Teuton in lieu of certain cash payments as part of the consideration for the acquisition of 100% interest in the Properties. All prior payments to 2018 have been met accordingly. Share issuance schedule per the amendment to the Original Option Agreements as follows: Orion Property: 216,667 Shares at $0.30 per Share to be issued within five business days of Exchange approval, 50,000 Shares on or before June 1, 2019; 50,000 Shares on or before June 1, 2020, and 250,000 Shares on or before June 1, 2021, for a total of 566,667 Shares at $0.30 per Share. Fairweather Property: 216,667 Shares at $0.30 per Share to be issued within two business days of Exchange approval, 50,000 Shares on or before December 15, 2018; 50,000 Shares on or before December 15, 2019, and 250,000 Shares on or before December 15, 2020, for a total of 566,667 Shares at $0.30 per Share. Delta Property: 333,333 Shares at $0.30 per Share to be issued within five business days of Exchange approval. High North Property: 333,333 Shares at $0.30 per Share to be issued within five business days of Exchange approval. Tudor also wishes to rectify the assay values of silver (“Ag“) and copper (“Cu“) reported in the Company’s news release dated August 24, 2018. The correct assay values for hole CB-18-32 are 1.7 grams for Ag and 0.011% for Cu from 194.7 meters to 316.5 meters respectively.
Contact Information
Barry Holmes
Investor Relations
Phone:778-587-2074
Email:bholmesmba@gmail.com
Cathy Hume
CHF Capital Markets
Phone:416-868-1079 Ex 231
Email:cathy@chfir.com
Aris Morfopoulos
Financial Relations
Phone:604-721-2650
Email:aris@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.
