The Prospector News

TUDOR GOLD ANNOUNCES UPSIZING OF PREVIOUSLY ANNOUNCED PRIVATE PLACEMENT FINANCING TO $8.5 MILLION

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

TUDOR GOLD ANNOUNCES UPSIZING OF PREVIOUSLY ANNOUNCED PRIVATE PLACEMENT FINANCING TO $8.5 MILLION

 

 

 

 

 

Tudor Gold Corp. (TSX-V: TUD) (Frankfurt: H56) is pleased to announce that, due to strong investor demand, it intends to increase the size of the Company’s previously announced non-brokered private placement of securities to up to $8.5 million. The Offering will be comprised of a combination of: (i) non-flow-through units to be sold at a price of $0.90 per NFT Unit; and (ii) flow-through units of the Company to be sold at a price of $1.05 per FT Unit.

 

Each NFT Unit will consist of one non-flow-though common share of the Company  and one half (½) of one common share purchase warrant. Each FT Unit will consist of one common share of the Company to be issued as a “flow-through share” within the meaning of the Income Tax Act (Canada), and one half of one Warrant. Each Warrant will entitle the holder to purchase one non-flow-through common share of the Company at a price of $1.35 at any time on or before that date which is 24 months after the closing date of the Offering. The exact number of NFT Units and FT Units sold will be determined at closing.

 

The gross proceeds received from the sale of the FT Units is expected to be used for work programs on the Company’s Treaty Creek Property and the net proceeds received from the sale of the NFT Units is expected to be used for general working capital purposes.

 

In connection with the Offering, the Company may pay certain finders a fee comprised of cash, finder’s warrants, or both, based on the proceeds raised from the sale of securities to purchasers introduced to the Company by such finders.

 

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 Treaty Creek

 

The Treaty Creek Project hosts the Goldstorm Deposit, comprising a large gold-copper porphyry system, as well as several other mineralized zones. As disclosed in the  “NI-43-101 Technical Report for the Treaty Creek Project”, dated April 28, 2023 prepared by Garth Kirkham Geosystems and JDS Energy & Mining Inc., the Goldstorm Deposit has an Indicated Mineral Resource of 23.37 Moz of AuEQ grading 1.13 g/t AuEQ (18.75 Moz gold grading 0.91 g/t, 2.18 Blbs copper grading 0.15 %, 112.4 Moz silver grading 5.45 g/t) and an Inferred Mineral Resource of 7.35 Moz of AuEQ grading 0.98 g/t AuEQ (5.54 Moz gold grading 0.74 g/t, 0.85 Blb copper grading 0.16 %, 45.08 Moz silver grading 5.99 g/t), with a pit constrained cut-off of 0.5 g/t AuEQ and an underground cut-off of 0.7 g/t AuEQ. The Goldstorm Deposit has been categorized into three dominant mineral domains and several smaller mineral domains. The CS-600 Domain largely consists of an intermediate intrusive stock and hosts the majority of the copper mineralization within the Goldstorm Deposit. CS-600 has an Indicated Mineral Resource of 9.86 Moz AuEQ grading 1.10 g/t AuEQ (6.22 Moz gold grading 0.70 g/t, 1.98 Blbs copper grading 0.32 %, 51.1 Moz silver grading 5.71 g/t) and an Inferred Mineral Resource of 3.71 Moz AuEQ grading 1.19 g/t AuEQ (2.32 Moz gold grading 0.75 g/t, 0.76 Blb copper grading 0.36%, 18.71 Moz silver grading 6.01 g/t). The Goldstorm Deposit remains open in all directions and requires further exploration drilling to determine the size and extent of the deposit.

 

1 AuEQ = Au g/t + (Ag g/t*0.0098765) + (Cu ppm*0.0001185)

 

Qualified Person

 

The Qualified Person for this news release for the purposes of National Instrument 43-101 is the Company’s President and CEO, Ken Konkin, P.Geo. He has read and approved the scientific and technical information that forms the basis for the technical disclosure contained in this news release.

 

About Tudor Gold

 

TUDOR GOLD CORP. is a precious and base metals exploration and development company with claims in British Columbia’s Golden Triangle (Canada), an area that hosts producing and past-producing mines and several large deposits that are approaching potential development. The 17,913 hectare Treaty Creek project (in which TUDOR GOLD has a 60% interest) borders Seabridge Gold Inc.’s KSM property to the southwest and borders Newmont Corporation’s Brucejack property to the southeast.

 

Posted December 4, 2023

Share this news article

MORE or "UNCATEGORIZED"


PPX Mining Announces Closing Of $1.35 Million Private Placement

PPX Mining Corp. is pleased to announce that it has closed its fu... READ MORE

April 19, 2024

Elevation Gold Reports Financial Results for Year Ended December 31, 2023, including $66.4M in Total Revenue

Elevation Gold Mining Corporation (TSX-V: ELVT) (OTCQB: EVGDF) i... READ MORE

April 18, 2024

Reunion Gold Announces the Signing of a Mineral Agreement With the Government of Guyana for Its Oko West Project

Reunion Gold Corporation (TSX-V: RGD; OTCQX: RGDFF) is pleased to announ... READ MORE

April 18, 2024

Drilling Confirms 4 km of Favourable Corridor at Lynx Gold Trend

Puma Exploration Inc. (TSX-V: PUMA) (OTCQB: PUMXF) is thrilled to... READ MORE

April 18, 2024

Grid Metals Intersects 7 m at 1.28% Li2O at over 125 m Below the Previously Deepest Drill Holes at Donner Lake; Provides Project Update

Grid Metals Corp. (TSX-V:GRDM) (OTCQB:MSMGF) is pleased to announ... READ MORE

April 18, 2024

Copyright 2024 The Prospector News