RE:RE:TUD news todayI'm hoping we can get going as soon as possible..
why wait...next year can be cold...
We should have enouph $$$ to get going..
So go for the Gold while we can......
Byhi...
udor Gold Corp. plans to arrange a non-brokered private placement of flow-through units of the company and non-flow-through units of the company for aggregate gross proceeds of up to $2-million.
The Company intends to issue up to 4,687,500 FT Units under the Offering at a purchase price of $0.32 per FT Unit, for gross proceeds of up to $1,500,000. Each FT Unit will be comprised of one flow-through common share of the Company (within the meaning of Subsection 66(15) of the Income Tax Act (Canada)) and one-half of one transferable non-flow-through common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one additional common share of the Company ( a "Common Share") at an exercise price of $0.50 per Common Share for a period of one year from the closing of the Offering (the "Closing Date"), provided that commencing on the date that is four months and one day after the Closing Date, if the closing price of the Common Shares on the TSX Venture Exchange (the "Exchange"), or any other stock exchange on which the Common Shares are listed, is greater than $1.00 per Common 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.
In addition to the FT Units, the Company will issue up to 1,666,667 Non-FT Units under the Offering, at a purchase price of $0.30 per Non-FT Unit for total proceeds of up to $500,000. Each Non-FT Unit will be comprised of one Common Share and one whole Warrant having the same attributes as the Warrants comprising part of the FT Units.
The proceeds from the sale of the FT Units will be used to fund Company's 2019 Treaty Creek and other exploration plans at Tudor Gold's projects in British Columbia's Golden Triangle. The proceeds from the Non-FT Units will be used for general corporate working capital purposes.
All securities to be issued pursuant to the Offering will be subject to a four month hold period commencing on the Closing Date, in accordance with applicable Canadian securities laws, in addition to any other restrictions applicable under the policies of the Exchange or securities laws of jurisdictions outside Canada where the FT Units and Non-FT Units are sold.