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Bullboard - Stock Discussion Forum Tudor Gold Corp V.TUD

Alternate Symbol(s):  TDRRF

Tudor Gold Corp. is a Canada-based precious and base metals exploration and development company. The Company has 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 Company has a 60% interest in Treaty Creek gold project, located in northwestern British Columbia... see more

TSXV:TUD - Post Discussion

Tudor Gold Corp > TUDOR GOLD ANNOUNCES UPSIZING TO $15 MILLION
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Post by TeckPro on Oct 14, 2021 5:55pm

TUDOR GOLD ANNOUNCES UPSIZING TO $15 MILLION

TUDOR GOLD ANNOUNCES UPSIZING OF PREVIOUSLY ANNOUNCED PRIVATE PLACEMENT FINANCING TO $15 MILLION, WITH PARTICIPATION BY ERIC SPROTT

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

 

Vancouver, British Columbia, Canada – October 14, 2021 – Tudor Gold Corp. (TSXV:TUD) (the “Company”) is pleased to announce that, due to strong investor demand, it has agreed with Research Capital Corporation, as lead agent and sole bookrunner (the “Agent”), on behalf of a syndicate, including Canaccord Genuity Corp. and Red Cloud Securities Inc. (collectively, the “Agents”), in connection with the previously announced best efforts, private placement offering (the “Offering”) to further increase the size of the Offering to $15,000,000. As a result of the significant demand and increased size of the Offering, the option previously granted to the Agent to increase the size of the Offering will no longer apply. The Offering will consist of a combination of: (i) common shares of the Company (each, a "Common Share") at a price of $2.10 per Common Share, and (ii) and Common Shares that will qualify as “flow-through shares” within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the “Tax Act”) (each, a “FT Common Share”) at a price of $2.50 per FT Common Share. Eric Sprott has indicated his intention to subscribe in the Offering.

The net proceeds from the sale of Common Shares will be used for the Company’s ongoing exploration drilling program, working capital requirements and other general corporate purposes. The gross proceeds from the sale of FT Common Shares will be used to incur eligible "Canadian exploration expenses" ("CEE") that are "flow-through mining expenditures" (as such term is defined in the Tax Act) related to exploration expenses on the Company’s Treaty Creek flagship property, located in Golden Triangle of northwestern British Columbia, as permitted under the Tax Act. The Company will incur the CEE on or before December 31, 2022 and renounce such CEE to the purchasers of the FT Common Shares with an effective date of no later than December 31, 2021.

The Common Shares and FT Common Shares to be issued under the Offering will be offered by way of private placement in each of the provinces of Canada, and such other jurisdictions as may be determined by the Company, in each case, pursuant to applicable exemptions from the prospectus requirements under applicable securities laws.

The Offering is scheduled to close on or about the week of November 1, 2021, or such other date as agreed upon between the Company and the Agents (the “Closing”) and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals (including the approval of the TSX Venture Exchange). The Common Shares and FT Common Shares to be issued under the Offering will have a hold period of four months and one day from the Closing.

In connection with the Offering, the Agents will receive an aggregate cash fee equal to 6.0% of the gross proceeds from the Offering, including in respect of any exercise of the Over-Allotment Option. In addition, the Company will grant the Agents non-transferable compensation warrants (the “Compensation Warrants”) entitling the Agents to purchase a number of Common Shares equal to 6.0% of the total number of Common Shares and FT Common Shares sold under the Offering (including in respect of any exercise of the Over-Allotment Option). Each Compensation Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of $2.50 per Common Share for a period of 24 months following the Closing.

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.

About Tudor Gold Corp.

Tudor Gold Corp. is a precious and base metals exploration and development company with properties 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 Pretium Resources Inc.’s Brucejack property to the southeast. In April 2021 Tudor published their 43-101 technical report, “Technical Report and Initial Mineral Resource Estimate of the Treaty Creek Gold Property, Skeena Mining Division, British Columbia Canada” dated March 1, 2021 on the Company’s Sedar profile. The Company also has a 100% interest in the Crown project and a 100% interest in the Eskay North project, all located in the Golden Triangle area.

Comment by watchmeplz on Oct 14, 2021 8:17pm
As a result of the significant demand and increased size of the Offering  Then why arent we doing the pp at $3.5+.
Comment by sueron on Oct 15, 2021 12:25am
Because they are brain dead.. All the better for TUO.. Ron
Comment by alpha74 on Oct 15, 2021 9:41am
At the moment, many explorers are having trouble raising money. The situation for Tudor Gold is quite different. The interest of the smart money in Tudor remains high and shows the excellent prospects. I expect that next year at least 80k meters will be drilled and Tudor will leave Seabridge behind.     
Comment by fordster on Oct 16, 2021 1:01am
True...but at what point will the market recognize it....with the PEA? Might be a few years off... patience.
Comment by MarcusA on Oct 17, 2021 8:21am
Yes, Alpha! I have the same questions as Fordster. Furhermore I ask myself what market we should hope for. By now I lost a lot of faith in the stock-market to recognize the value in the ground. My hopes rahter lie witht market of buyers to take over. Also, I wonder if there will be a PEA  regarding GS only?  They announced to focus the drilling on GS, presumbly to get this jewel ready ...more  
Comment by fordster on Oct 17, 2021 6:38pm
Bro...I would think a PEA would include a leach pond (all that stuff) for the entire mine...does anyone think it would feasible to sell off GS first with first right of refusal for the purchaser...sorry guys I hope I'm making sense. Heres to POG rocketing back up to designated support....if not than we wait...no big deal- we have the goods.
Comment by CobraShelby on Oct 17, 2021 9:18pm
Hello Fordster  Not sure Walter and Eric will wait another 3 years to hit the Honerun The deal may come sooner than later . Walter will be over 90 an Eric over 80 in 3 years. If the price is right they will move. To determine what the TC really has on the ground, it woulld take another 10 years of drilling at this paste of 50 k to 65 k per year
Comment by MarcusA on Oct 18, 2021 6:03am
Thanks Fordster and Cobra! We agree regarding the fundamentals, it would be interesting to know, if there could be a PEA for GS, whicht then gets uddated and extend (presumbly for PS in the next step). I like Cobra's practical argument that Walter and Ken might have a personal interest in selling in a future that is not too distant. Would match my personal interests too...
Comment by PromissingJuan on Oct 18, 2021 3:29pm
dissapointed.  been hangin in....road it down to $2.  ANd what do these bozos do???  Give away $15 million at $2.10????????  big discount to makret and almost no premium on tax shares??????  we all know ya gotta raise dough to feed the beast, but they always did it at a nice premium!!!!!!!!!!!!   now they decide to give everything away they can at $2.1/2.5??????? ...more  
Comment by NOMOREROLLBACKS on Oct 18, 2021 9:25pm
to friends only????????
Comment by sueron on Oct 19, 2021 10:12am
I don't have to worry they can dilute TUD all they want and more. I have been out completely for a while. Even though TUO is not doing that much price wise I feel that I did the right thing.. Time will tell? My average cost on TUO is under .90 cents. Not saying to buy or sell. GLTA  Ron
Comment by CobraShelby on Oct 17, 2021 9:09pm
Hello Marcus Forget the Share price at this time . We need a bit more patient than i expect. M&A will be there eventually this will be our pay back . Biggest discovery in the last 30 years. 27.3M so far  Probably up to 40M plus when all drilled are in this year. Next year drilling already funded. In my view PEA could only be for Goldstorm since not enough drilling as occur on the other 3 ...more  
Comment by TeckPro on Oct 15, 2021 7:29am
As a shareholder I'm glad the money continues to pour in from those that are well respected and also have insider knowledge.  Loaded, locked and ready for more exciting news. ES has paid as high as $2.66 per share so $2.10 must make him very Happy. Good for him. I would do the same if I had that kind of cash. Good for us shareholders who keep adding as this will get taken out for sure ...more  
Comment by Jeepfan on Oct 15, 2021 8:27am
I wonder if Walter Storm bought any at these prices if yes that might let you know why the price is 2.10 and 2.50 and not 3.10 and 3.50 but as long as I can buy at a price comparable to the billionaires I am happy and continue to buy with confidence ( follow the money).
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