Tudor Gold Corp. (TSXV: TUD) (Frankfurt: TUC) has received approval from the TSX Venture Exchange allowing it to close an assignment and assumption agreement with Timothy Young, Matthew Mason and Sotet Capital Limited to acquire the Assignors’ right, title and interest in and to the Amended and Restated Purchase Agreement (Royalty Agreement) pursuant to which the Assignors held, among other rights, a 1.02 % net smelter return on certain key claims of the Treaty Creek Property and a 0.51 % net smelter return on the other claims of the Treaty Creek Property (NSR).
Pursuant to the terms of the Royalty Agreement, American Creek Resources Ltd. also held certain buyback rights in respect of the NSR. Tudor is also pleased to announce the Exchange has provided approval to and the Company has closed the termination agreement with American Creek previously announced on September 30, 2021.
Pursuant to the terms of the Termination Agreement and the Assignment and Assumption Agreement, Tudor has issued an aggregate of 5,100,000 common shares at a deemed per share issue price of $2.38 to the Assignors and AMK. 2,600,000 shares are subject to the statutory four month and a day restriction on trading and the remaining 2,500,000 shares are subject to a 10-month contractual restriction on trading.
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.
For further information please visit: https://tudor-gold.com/projects/treaty-creek/
