VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 22, 2016) - Tudor Gold Corp. (TSX VENTURE:TUD) (the "Company" or "Tudor Gold") is pleased to announce that in connection with its recently completed private placement financing of 3,000,000 common shares at a price of $1.00 per common share (the "Private Placement") the Company has received subscriptions to partially exercise its 25% oversubscription right. In connection therewith, the sale of an additional 70,000 common shares at a price of $1.00 per common share was has been completed. The sale of the additional shares pursuant to the oversubscription right brings the aggregate gross proceeds to Tudor from the Private Placement to approximately $3,070,000.
The Shares issued under the private placement are subject to a hold period under applicable Canadian securities laws expiring on December 20, 2016.
About the Company
Tudor Gold is focused on being a significant explorer in British Columbia's Golden Triangle, an area which hosts multiple past-producing mines and several large 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 the Mackie, Eskay North, Orion, Fairweather, Delta and the High North properties, all of which are located in the Golden Triangle area. There are no known resources or reserves on any of the Company's mineral properties, and the presence of mineral deposits on properties adjacent to or in close proximity to the Company's mineral properties is not necessarily indicative of mineralization on the Company's properties.
President and Chief Executive Officer
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 Corporation's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. The forward-looking information contained in this release is made as of the date hereof and the Corporation is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.