Tudor Gold closes financing for $12.5-million

Executive Summary

• Tudor Gold Corp. upsized its non‑brokered private placement to 13.16 million flow‑through units at C$0.95 per unit, raising approximately $12.5 million in gross proceeds.
• The second and final tranche closed with 1,245,262 units for $1,182,999; total proceeds of the offering amount to $12,506,722.
• Proceeds are earmarked for Canadian exploration expenses and flow‑through mining expenditures on the Treaty Creek project through Dec 31 2026, with indemnification provisions for any CRA renunciation shortfalls.

Key Details

• Upsized Offering: Increased from 12.75 M to 13.16 M units; price maintained at C$0.95 per unit.
• Total Gross Proceeds: $12,506,722 (≈ C$12.5 M).
• Unit Composition: Each unit = 1 flow‑through common share + ½ non‑flow‑through common share purchase warrant.
• Warrant Terms: Whole warrant allows purchase of one additional non‑flow‑through common share at $1.20 per share, exercisable for two years from issue date.
• Second Tranche Details: 1,245,262 units issued; gross proceeds $1,182,999. All securities subject to a four‑month hold period expiring April 12 2026.
• Finder’s Fees & Broker Warrants: Paid aggregate finder fees of $641,758; issued 675,532 broker warrants (representing 6 % of proceeds and 6 % of units issued to certain placees).
• Insider Participation: Insiders purchased 40,000 units in the second tranche; transaction qualifies as a related‑party transaction under MI 61‑101 and Policy 5.9.
• Regulatory Approval: Offering pending final approval by the TSX Venture Exchange.
• Use of Proceeds: Dedicated to Canadian exploration expenses and flow‑through mining expenditures on the Treaty Creek project, to be incurred by Dec 31 2026 and renounced no later than Dec 31 2025. Indemnification clause protects subscribers against additional taxes if CRA reduces qualifying expenditures.

Notable Quotes

No executive quotes were included in this release.