Vancouver, British Columbia--(Newsfile Corp. - September 25, 2018) - Tudor Gold Corp. (TSXV: TUD) (FSE: TUC) (the "Company" or "Tudor Gold") is pleased to announce that it has closed a non-brokered private placement under which it has raised gross proceeds of $861,700. The private placement was comprised of 3,191,481 units of the Company (the "Units") at a price of $0.27 per Unit, with each Unit comprised of one common share and one transferable common share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder to purchase one additional common share of the Company at an exercise price of $0.40 for a period of one year.
The proceeds from the sale of the Units will be used to advance exploration of the Company's mineral properties in the Golden Triangle of northwestern B.C., for general corporate and working capital purposes and repayment of existing liabilities.
All securities issued pursuant to the private placement are subject to a four month hold period under applicable Canadian securities laws.
About Tudor Gold
Tudor Gold is a precious and base metals explorer in British Columbia's Golden Triangle, an area which hosts multiple past-producing mines and several large world-class deposits that are approaching potential development. The Company has a 60% interest in both the Electrum and Treaty Creek properties, and a 100% interest in several other mineral 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 or contact:
Aris Morfopoulos
Chief Financial Officer & Corporate Secretary
Tel: 604-721-2650
Email:
Or
CHF Capital Markets
Cathy Hume
CEO
Tel: 416-868-1079 x 231
Email:
Cautionary Statements regarding Forward-Looking Information
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially.
All statements including, without limitation, statements relating to the anticipated use of proceeds from the above private placement offering and receipt of regulatory approvals with respect to the private placement offering as well as any other future plans, objectives or expectations of the Company are forward-looking statements that involve various risks and uncertainties. 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. 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.
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.
