Tudor Gold Corp V.TUD

Debt settlement

[TudManiak]

as mentioned, Sean got his shares on the cheap as debt settlement (some cheap otions to)........

here is the press release on the largest grant.  we all knew by then there was gold in them hills: "Pursuant to the Debt Settlement, the proposed issuance of 2,678,571 common shares to one of the Creditors, More Core Drilling Services Ltd., a company controlled by Sean Pownall, a director of the Company, constitutes a “related party transaction” under Multilateral Instrument 61-101-Protection of Minority Security Holders in Special Transactions (“MI 61-101”)"

TUDOR GOLD announces settlement of debt

 

VANCOUVER, BC, March 20, 2019 – Tudor Gold Corp. (TSXV: TUD) (Frankfurt: TUC) (the “Company” or “Tudor Gold“) is pleased to announce that it has entered into debt settlement agreements with two creditors of the Company (the “Creditors”) and pursuant thereto will issue an aggregate of 3,214,285 common shares in the capital of the Company, at a deemed price of $0.28 per common share, in consideration for the settlement of a total of $900,000 in accrued liabilities owing to the Creditors (the “Debt Settlement”). The Company expects that the proposed Debt Settlement will assist the Company in preserving its cash to advance exploration of the Company’s mineral properties in the Golden Triangle of northwestern B.C and for working capital purposes.

Pursuant to the Debt Settlement, the proposed issuance of 2,678,571 common shares to one of the Creditors, More Core Drilling Services Ltd., a company controlled by Sean Pownall, a director of the Company, constitutes a “related party transaction” under Multilateral Instrument 61-101-Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is exempt from the formal valuation requirements and minority shareholder approval requirements of MI 61-101 pursuant to Subsections 5.5(a) and 5.7(1)(a) of MI 61-101, as  the fair market value of the common shares issued to related parties in the Debt Settlement will not exceed 25% of the Company’s market capitalization. A material change report will be filed less than 21 days before the closing date of the transaction. The Company considers this shorter period to be reasonable and necessary in the circumstances to allow the Company to improve its financial position by reducing its accrued liabilities as soon as possible.

All securities to be issued pursuant to the Debt Settlement will be subject to a four month hold period from the closing date under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada. The Debt Settlement is subject to all necessary regulatory approvals including from the TSX Venture Exchange.

[stockzorg]

I was thinking that a similar debt settlement would be a workable option for Tudor this year given the bad market conditions.  It would have the benefit of reducing the PP requirements for drilling.  Mr. Pownall has done well with the options/warrants/debt settlement shares - I just reviewed back to 2018 and he consistently raises funds by selling a small percentage of his stock before

[TudManiak]

Sean is one of the few now who has made money on TUD...............I know there are some real long term holders still in the money.............but most are either flat or under water............i had 30 cent stock once upon a time.........but also added at 1, 2 and highs as 3.............so gains are long gone....................... Sean has managed to keep holdings flat (with all the options he

[TudManiak]

Would luv to Sean agree to do 33,000 m of drillin for $10 million of stock at $1.25/unit..........................stock would run like a banshee imho....

[TudManiak]

Morgan Stanley algo is buyin todya.............a good sign............a notorious short selling algo in mining space...............so, like I said earlier, looks like the low is now in at 84..............hope im right................but i also thought it would hold a buck!!!!!!!!!!!!!!