2022-03-04 13:16:25
Vancouver, British Columbia–(Newsfile Corp. – March 4, 2022) – Tudor Gold Corp. (TSXV: TUD) (FSE: TUC) (the “Company” or “Tudor” or “Tudor Gold“) is pleased to announce that the Company, together with Tudor Holdings Ltd. and Walter Storm, a Director of the Company (collectively, the “Company Parties“), have entered into a termination agreement (the “Termination Agreement“) with Richard Mill (“Mill“), pursuant to which the parties have agreed to terminate certain Purchase Agreements (as defined below) and the underlying NSR Royalties (as defined below) in consideration for Tudor’s issuance to Mill of 115,000 common shares in the capital of Tudor (the “Consideration Shares“). The Consideration Shares shall be subject to the statutory 4 month and a day restriction on trading.
Pursuant to purchase and sale agreements between Mill and the Company dated (i) September 2015, as amended on April 6, 2016 and July 19, 2019, and (ii) May 10, 2016 (together, the “Purchase Agreements“), Tudor acquired from Mill certain mineral claims located in the Skeena Mining District. As partial consideration for the acquisition of the mineral claims pursuant to the Purchase Agreements, Tudor agreed to grant to Mill two separate 2.5% net smelter returns royalties on such acquired claims (together the “NSR Royalties“).
In addition, pursuant to the Termination Agreement, each of the Company Parties and Mill have agreed to mutually release any and all claims such parties may have against the others with respect to any matters existing up to the present time.
The Termination Agreement and issuance of the Consideration Shares remains subject to the approval of the TSX Venture Exchange.
About Tudor Gold
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 TUDOR GOLD 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.
ON BEHALF OF THE BOARD OF DIRECTORS OF
TUDOR GOLD CORP.
“Ken Konkin”
Ken Konkin
President and Chief Executive Officer
For further information, please visit the Company’s website at www.tudor-gold.com or contact:
Chris Curran
Head of Corporate Development and Communications
Phone: (604) 559 8092
E-Mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
or
Carsten Ringler
Head of Investor Relations and Communications
Phone: +49 151 55362000
E-Mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
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.
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. “Forward-looking information” includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including completion of the transactions contemplated in the Termination Agreement. Generally, but not always, forward-looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connation thereof.
Such forward-looking information and statements are based on numerous assumptions, including among others, that the Company will be able to complete the transactions contemplated in the Termination Agreement and that the Company be granted approval from the TSX Venture Exchange for such transactions, including the issuance of the Consideration Shares. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.
There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s plans or expectations include risks relating to the failure to complete the transactions contemplated in the Termination Agreement; market or business conditions; regulatory changes; timeliness of government or regulatory approvals; and other risks detailed herein and from time to time in the filings made by the Company with securities regulators.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.
The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
