- Tudor Gold (TUD) has upsized its private placement to $8 million
- The offering has 3 parts: conventional units, flow-through units, and charity flow-through units
- The offering is scheduled to close on or about September 19, 2022
- The company plans to use the net proceeds for its ongoing exploration drilling program, working capital requirements, etc
- Tudor Gold Corp. is a precious and base metals exploration and development company
Tudor Gold (TUD) has upsized its previously announced private placement to $8 million.
Under the amended terms, the offering will consist of a combination of securities:
- Conventional units at $1.25 per unit. Each unit will consist of a special warrant which will entitle the holder to receive one common share and one-half of one share purchase warrant
- Flow-through units at a $1.45 per unit. Each flow-through unit will consist of a special warrant, and one-half of one warrant
- Charity flow-through units at $1.77 per unit. Each charity flow-through unit will consist of a special warrant and one-half of one warrant.
The net proceeds will be used for the company’s ongoing exploration drilling program, working capital requirements and other general corporate purposes.
The agents will have an option to increase the size of the offering by up to 15 per cent at any time up to 48 hours prior to the closing.
The company is seeking to spin out its interest in its subsidiary Goldstorm Metals Corp. to the company’s current through a plan of arrangement.
The special warrants will be automatically exchanged for common shares on the first business day following the completion of the Spin-Out Arrangement
The offering is scheduled to close on or about September 19, 2022.
All securities are subject to a statutory four-month hold period.
The agents will receive an aggregate cash fee equal to 6.0 per cent of the gross proceeds from the offering. The agents will also receive non-transferable compensation warrants.
Tudor Gold Corp. is a precious and base metals exploration and development company with properties in British Columbia’s Golden Triangle, Canada.
Tudor Gold Corp. (TUD) closed down 6.98 per cent, trading at $1.20 per share.
