Teuton Resources Corp V.TUO

teuton buys a whack of tudor shares

[highper]

TUDOR GOLD CLOSES $9.6 MILLION PRIVATE PLACEMENT WITH JOINT VENTURE PARTNER TEUTON RESOURCES CORP.

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES


VANCOUVER, BC, April 27, 2021 - Tudor Gold Corp. (TSXV: TUD) (Frankfurt: TUC) (the "Company" or "Tudor Gold") is pleased to announce that the Company has completed a non-brokered private placement of 1,000,000 flow-through common shares (the “FT Shares”) at a price of $3.60 per FT Share and 2,000,000 non-flow-through common shares (the “NFT Shares”) at a price of $3.00, for aggregate gross proceeds of $9,600,000 (the “Private Placement”) with the Company’s joint venture partner Teuton Resources Corp. (TSX.V: TUO) ("Teuton").

Walter Storm, President and CEO of Tudor Gold, stated: "This significant equity investment by Teuton, our 20% partner in Treaty Creek, is a very strong endorsement of both Tudor Gold and the Treaty Creek project. We are pleased that our partner Teuton and their President and CEO Dino Cremonese have so much confidence in the Treaty Creek project and in Tudor Gold as the operator of the Treaty Creek project.  This is a very exciting time for Tudor Gold and its shareholders, as Tudor Gold prepares to aggressively advance the Treaty Creek project.  Tudor Gold is very eager to begin this year`s exploration program at Treaty Creek and will provide shareholders with regular updates as exploration at the Project develops."
 

[ranman]

So I now own an even bigger piece of TUD without coming up with the cash myself?? This could be very good considering I sold all my TUD last year and bought TUO with the proceeds.

[highper]

It will be interesting to see what Dino says in the press release..... Skeena's big drill result today only pours more oil on the gplden triangle fire...... eskay questex gold metallis seabridge and pretium are going gung ho with the drills this season... and now teuton has a piece of tudor gold's properties to the south of seabridge and pretium...... wow there is so much to unpack here...

[highper]

Man that was out of the blue. It will take a while for me to wrap my head around this one. I wonder if Dino will be appointed to the tudor board for one.... Is Eric Sprott supporting this investment... Is this a massive defensive wall meant to combine walter's Eric sprott's and teuton's positions to retain over 50% control of the company.... This ends the threat of a major buying up 50

[MarcusA]

Yes, still chewing, but my first 5 cents: This way Dino is supporting an agressive drilling campaign - at GS and PSZ. They are getting closer, more interwined.

[rusty111]

So would it be logical to think if Teuton just pulled out $10 mil , then someone else is going match them and another big move coming ? Timings interesting here     

[fordster]

Nice point Marcus

[LonghandStrong]

what if its as simple as " no one else was buying"? Tuo is levered v. TUD. What of late in the day, no one else would pay? And it's less than 1/2 the dough, they need 20+ mill no to complete the season at 60k. Where are the whales that have been circling?

[karlschranz]

You really are a funny guy. And in any case - just like Tudor Gold and the Amigos - a "no-brainer". Every day the company answers your really stupid comments through news. Then the next stupid questions come...funny. You might not know that a 30 million ounce company in the moment doesn't have any problems to get 50 million through flow through in the market. If you do not know, that