Tudor closes $11.32-million first tranche of placement

Executive Summary

• Tudor Gold Corp. has closed the first tranche of its non-brokered private placement of flow-through units, raising gross proceeds of $11,323,724.
• The tranche consisted of 11,919,709 units priced at 95 cents per unit, with proceeds designated for Canadian and British Columbia flow-through mining expenditures.
• The company incurred finders' fees of $479,638 and issued warrants to finders, with all securities subject to a four-month hold period.

Key Details

• Transaction Structure: Closed first tranche of non-brokered private placement of flow-through units.
• Units Issued: 11,919,709 units.
• Price: 95 cents per unit.
• Gross Proceeds: $11,323,724.
• Unit Composition: Each unit consists of one flow-through common share and one-half of one non-flow-through common share purchase warrant.
• Warrant Terms: Each whole warrant entitles the holder to purchase one additional non-flow-through common share at an exercise price of $1.20 per share for a period of two years from the date of issue.
• Use of Proceeds: Canadian exploration expenses, flow-through mining expenditures (Canada), and B.C. flow-through mining expenditures. Expenditures to be incurred on or before Dec. 31, 2026, and renounced with an effective date no later than Dec. 31, 2025.
• Indemnification: Company will indemnify unit subscribers for any additional taxes payable if qualifying expenditures are reduced by the Canada Revenue Agency.
• Finders' Fees: Aggregate fees of $479,638 paid to arm's-length finders.
• Finder Warrants: Aggregate of 504,880 warrants issued to finders, representing 6% of the proceeds raised and 6% of the units issued.
• Hold Period: All securities issued are subject to a four-month hold period expiring on April 4, 2026.
• Project Context (Treaty Creek/Goldstorm):
  • Indicated Resource: 730.20 Mt at 0.92 g/t Au, 0.18% Cu, and 5.48 g/t Ag (21.66 Moz Au, 2.87 B lbs Cu, 128.73 Moz Ag).
  • Inferred Resource: 149.61 Mt at 1.01 g/t Au, 0.15% Cu, and 6.02 g/t Ag (4.88 Moz Au, 503.2 M lbs Cu, 28.97 Moz Ag).
  • Status: Deposit remains open in all directions; requires further exploration drilling.

Notable Quotes

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