Tudor Gold Corp.(TSXV:TUD) has closed its brokered private placement offering for aggregate gross proceeds of $15,000,000.
The Offering was led by Research Capital Corporation as lead agent and sole bookrunner, on behalf of a syndicate, including Canaccord Genuity Corp. and Red Cloud Securities Inc.
The net proceeds from the sale of Common Shares will be used for the company’s ongoing exploration drilling programme, 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” 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.
Eric Sprott, through 2176423 Ontario Ltd., a corporation which is beneficially owned by him, now beneficially owns or controls 33,717,819 common shares representing approximately 17.6% on a non-diluted basis and 16.2% on a fully diluted basis assuming the exercise of all convertible securities of the company.
Prior to the Offering, Mr. Sprott beneficially owned or controlled 32,765,619 common shares of the Company.
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 it 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.
For further information please visit: https://tudor-gold.com/