Don’t worried about TUD financingDon’t worried about financing as they authorize up to 20 million in financing through the public market as required. They don’t finance upfront but as they need with time, so the cost of financing will vary as the market price will accordingly with the future news comming.
Extracted from the news released Feb/14/2024;
At-The-Market Equity Program
The Company also announces that it has established an “at-the-market” equity distribution program (the “ATM Program”). The ATM Program allows Tudor to issue and sell, at its discretion, common shares in the capital of Tudor (“Common Shares”) that would have the aggregate sales amount of up to $20,000,000, to the public from time to time through Research Capital Corporation (the “Agent”), acting as the agent. All Common Shares sold under the ATM Program will be sold at the prevailing market price at the time of the sale, directly through the TSX Venture Exchange or any other recognized marketplace upon which the Common Shares are listed, quoted or otherwise traded in Canada. Tudor currently intends to use the net proceeds from the ATM Program to the extent raised, principally to advance the exploration and economic assessment of the Treaty Creek Project and for general working capital purposes but may also use net proceeds to fund all or a portion of the price of an acquisition.
Distribution of Common Shares under the ATM Program will be made pursuant to the terms of an equity distribution agreement (the “Equity Distribution Agreement”) dated February 13, 2024 entered into between Tudor and the Agent.
The ATM Program will be effective until the earlier of: (i) the issuance and sale of all of the Common Shares issuable pursuant to the ATM Program; and (ii) September 8, 2025, unless terminated prior to such date by Tudor or the Agent. As Common Shares sold in the ATM Program will be issued and sold at the prevailing market price at the time of the sale, prices may vary among purchasers during the period of distribution.