News Release
Tudor Gold Announces Non-brokered Private Placement
Vancouver, British Columbia–(Newsfile Corp. – October 19, 2017) – Tudor Gold Corp. (TSXV: TUD) (FSE: TUC) (the “Company” or “Tudor Gold”) is pleased to announce that the Company intends to complete a non-brokered private placement of 410,000 units of the Company (the “Units”) at a price of $0.70 per Unit for gross proceeds of $287,000 (the “Offering”).
Each Unit consists of one common share and one-half of one transferable common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to purchase one common share of the Company at a price of $1.00 for a period of two years from closing of the Offering. Commencing on the date that is four months and one day after closing of the Offering, if the closing price of the Company’s common shares on the TSX Venture Exchange (the “TSXV”), or any other stock exchange on which the Company’s common shares are listed, is at a price greater than $1.50 per share for a period of ten (10) consecutive trading days, the Company will have the right to accelerate the expiry date of the Warrants by giving written notice to the holders of the Warrants that the Warrants will expire on the date that is not less than 30 days from the date of such notice.
The proceeds from the sale of the Units will be used for general corporate and working capital purposes.
All securities to be issued pursuant to the above referenced Offering will be subject to a statutory four-month hold period. The Offering is subject to regulatory approval, including the approval of the TSXV.
About Tudor Gold
Tudor Gold is a significant explorer in British Columbia’s Golden Triangle, an area which hosts multiple past-producing mines and several large deposits that are approaching potential development. The GR2 claim group within the Treaty Creek claims is approximately 12 km southeast of the historic past-producing Eskay Creek mine. In the 13 years during which the Eskay Creek mine operated “more than 100 tonnes of gold and 5000 tonnes of silver” were produced (BC MINFILE No 104B 008). The “Golden Triangle” has been an exploration and mining district for over 100 years. The Company has a 60% interest in both the Electrum and Treaty Creek properties, and a 100% interest in the Mackie, Eskay North, Orion, Fairweather, Delta and the High North properties, all of which are located in the Golden Triangle area.
“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:
CHF Capital Markets
Cathy Hume
CEO
Tel: 416-868-1079 x 231
Email: cathy@chfir.com
Or
Aris Morfopoulos
Chief Financial Officer & Corporate Secretary
Tel: 604-721-2650
Email: aris@tudor-gold.com
Cautionary
