Sprott set to back $14.9 million Tudor Gold financing

Tudor Gold Corp. [TUD-TSXV, TUC-Frankfurt] said it has agreed to upsize a previously announced best efforts offering of securities that is now expected to raise $14.9 million, up from an earlier $10 million target. The upsized amount includes the full exercise of the agent’s over-allotment option. Of the final amount raised, $11.3 million will be under the prospectus offering and $3.65 million will be under the private placement offering.

The offered securities consist of the following combination:

• 15 million non-flow-through units priced at 50 cents each, to be issued under a prospectus supplement to the company’s final short form base shelf prospectus, dated August 2, 2025. Each NFT unit will consist of one common share and one half of one common share purchase warrant.
• 33 million flow-through units to be sold to charitable purchasers for 75 cents per charity FT unit, to be issued pursuant to the prospectus offering. Each charity FT unit will consist of one common share that will qualify as a flow-through share under the Income Tax Act (Canada) that will be issued as part of a charity arrangement and one-half of one warrant.
• 03 flow-through units priced at 60 cents per FT uni, bot be issued under a private placement pursuant to applicable prospectus exemptions in accordance with National Instrument 45-106 – Prospectus Exemptions, and together with the prospectus offering. Each FT Unit will consist of one common share that will qualify as “flow-through shares” within the meaning of subsection 66(15) of the Tax Act, and one half of one warrant.

Each whole warrant shall entitle the holder to buy one common share at an exercise price of 75 cents per warrant share at any time up to 36 months following closing of the offering, which is expected to occur on May 29, 2025.

Financier Eric Sprott, via an Ontario numbered company, has indicated his intention to back the transaction.

Tudor Gold shares eased 1.0% or $0.05 to 49.5 cents on Friday. The shares trade in a 52-week range of $1.16 and 54 cents.

In a press release on May 12, 2025, Tudor said it had augmented its executive team via the appointment of Joe Ovsenek as President and CEO, Ken McNaughton as Vice-President, Project Development and Micelle Romero as Vice-President, External Affairs.

Tudor Gold recently said it had received an exploration permit from the British Columbia Ministry of Mining and Critical Minerals for its flagship Treaty Creek property, which is located in the heart of the Golden Triangle. The permit is valid through May 31, 2023.

Tudor Gold is in the process of applying for the necessary permits to advance underground development, including a proposed exploration ramp. Once constructed, the company said the ramp will provide cost-effective, year-round access to the recently discovered high-grade Supercell-One (SC-1) complex area, enabling continued high-impact exploration, and may also serve as critical infrastructure supporting the future development of the broader Goldstorm deposit.