TUDOR GOLD ANNOUNCES $1,000,000 NON-BROKERED PRIVATE PLACEMENT
Vancouver, British Columbia – July 13, 2018 - Tudor Gold Corp. (TSXV: TUD) (FSE: TUC) (the "Company" or "Tudor Gold") is pleased to announce that it plans to arrange for a non-brokered private placement to raise gross proceeds of up to $1,000,000, including anticipated insider participation of up to $200,000.
The private placement will be comprised of up to 1,000,000 units of the Company (the "Units") at a price of $0.35 per Unit. Each Unit will be comprised of one common share and one transferable common share purchase warrant (each, a "Warrant"). Each Warrant will entitle the holder to purchase one additional common share of the Company at an exercise price of $0.55 for a period of two years from closing of the private placement.
The proceeds from the sale of the Units will be used to advance exploration of the Company's mineral properties in the Golden Triangle of northwestern B.C. and for general corporate and working capital purposes.
All securities to be issued pursuant to the private placement 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 private placement is subject to all necessary regulatory approvals including from the TSX Venture Exchange.
About Tudor Gold
Tudor Gold is a precious and base metals explorer in British Columbia's Golden Triangle, an area which hosts multiple past-producing mines and several large world-class deposits that are approaching potential development. The Company has a 60% interest in both the Electrum and Treaty Creek properties, and a 100% interest in several other mineral properties, all of which are located in the Golden Triangle area.
Cautionary Statements regarding Forward-Looking Information
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially.
All statements including, without limitation, statements relating to the ability to complete the offering on the proposed terms or at all, anticipated use of proceeds from the offering and receipt of regulatory approvals with respect to the offering as…