American Creek Resources is a precious metals exploration company with an impressive portfolio of high-potential gold and silver projects in British Columbia. These include properties in B.C.'s prolific Golden Triangle, one of the richest areas of mineralization in the world.
Cardston, Alberta--(Newsfile Corp. - May 12, 2020) - American Creek Resources Ltd. (TSXV: AMK) ("the Corporation") ("American Creek") today announced that it has executed an agreement with Tudor Gold Corp. ("Tudor") whereby Tudor is buying out the Corporation's 40% interest in the Electrum Project Joint Venture located near Stewart, British Columbia.
Tudor will pay American Creek $250,000 cash and issue 1,400,000 Tudor shares upon the transaction closing. The shares are subject to a standard four month hold period and a voluntary eight month hold as well.
This transaction is subject to approval by the TSX Venture Exchange.
They wouldn't have gotten assay results that quickly, could be there is visual gold in the pulled cores, i wonder if they are splitting the cores on the drill sight? If so, they stand a good chance some gold (or a lot) may be seen. Pretty hard to keep that quiet, good news travels fast. Im Hopeful !!
TUDOR GOLD ARRANGES $9.3 MILLION PRIVATE PLACEMENT WITH MR. ERIC SPROTT
VANCOUVER, BC, June 15, 2020 - Tudor Gold Corp. (TSXV: TUD) (Frankfurt: TUC) (the "Company" or "Tudor Gold") is pleased to announce that the Company intends to complete a non-brokered private placement of up to 6,652,700 common shares of the Company that will qualify as "flow-through shares" (within the meaning of subsection 66 (15) of the Income Tax Act (Canada)) to be issued as part of a charity arrangement ("Charity FT Shares") at a price of $1.40 per Charity FT Share for aggregate gross proceeds of C$9.3 million (the ?Offering?). The Offering is expected to close on or about July 7, 2020.
Subject to and concurrently with the completion of the Offering, Mr. Eric Sprott has agreed to be the back-end buyer of all of the shares issued in connection with the Offering through 2176423 Ontario Ltd., a corporation which is beneficially owned by him. Following the closing of the Offering, it is anticipated that Mr. Sprott will beneficially own and control 32,340,619 common shares, representing approximately 19.9% of the issued and outstanding common shares of the Company on a non-diluted basis. Currently, Mr. Sprott beneficially owns and controls 25,687,919 common shares, representing approximately 16.6% of the issued and outstanding common shares of the Company on a non-diluted basis. Mr. Sprott has agreed to enter into a support agreement with the Company in connection with any takeover bid or business combination supported by management.
Tudor Gold anticipates using an amount equal to the gross proceeds received by the Company from the sale of the Charity FT Shares, pursuant to the provisions in the Income Tax Act (Canada) (?ITA?), to incur eligible "Canadian exploration expenses" that qualify as "flow-through mining expenditures" as both terms are defined in the ITA (the "Qualifying Expenditures") on or before December 31, 2021, and to renounce all the Qualifying Expenditures in favour of the subscribers of the Charity FT Shares effective December 31, 2020.
In connection with the Offering, the Company expects to pay a finder?s fee equal to 2% of the gross proceeds of the Offering to Paradigm Capital Inc. Mr. Sprott is an insider of the Company and as such, his participation in the Offering is considered a "related party transaction" within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 ? Protection of Minority Security Holders in Special Transactions ("MI 61-101"). It is anticipated that the related party transaction will be exempt from minority approval and formal valuation requirements pursuant to the exemptions contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the FT Shares to be purchased on behalf of Mr. Sprott nor the consideration to be paid by him exceeds 25% of the Company's market capitalization. The Offering is subject to regulatory approval and any changes to the ITA prior to closing that impact the proposed transaction. All securities issued pursuant to the Offering will have a hold period of four months and one day.
The securities have not been, and will not be, registered under the Unites States Securities Act of 1933, as amended (the ?U.S. Securities Act?), or any U.S. state security laws, and may not be offered or sold in the Unites States without registration under the U.S. Securities Act and all applicable state securities laws or compliance with requirements of an applicable exemption therefrom. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the Unites States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Vancouver, British Columbia--(Newsfile Corp. - June 22, 2020) - Tudor Gold Corp. (TSXV: TUD) (FSE: TUC) (the "Company" or "Tudor Gold") is pleased to announce that it has added a third diamond drill rig to the 2020 program as Tudor Gold intensifies it's exploration efforts at its flagship property, Treaty Creek located in the Golden Triangle of Northwestern British Columbia. Diamond drilling started on the Goldstorm Zone with two drill rigs in May.
Tudor Gold Corp's V.P. Project Development, Ken Konkin, P.Geo. states: "The drilling has gone very well to-date given the early start in May. Both drill rigs are working extremely well as we outline the peripheral edges of the Goldstorm mineralization. We recognize that in order to achieve the goals of having our preliminary drill measured and drill indicated resource estimate completed for year-end, we need to accelerate our drilling production. The Goldstorm system is proving to be very large, as we have currently delineated 850m along the northeastern axis and 600 meters along the southeastern axis and just over 1080 meters at it's deepest point. Depending on the depths and widths of mineralization encountered, we may require more than three drills to complete this task. Furthermore, we will be drill testing the Perfect Structural Storm (PS2), a new geophysical and geological target located mid-way between our Goldstorm system and Seabridge's Iron Cap deposit. The first holes at PS2 will be located within a cluster of surface samples that have returned anomalous gold values."
The 2020 budget allows for 22,500 meters of drilling on the Goldstorm Zone. The gold-copper-silver mineralization remains open to the northeast and to the southeast, as well as to depth. The goal of the 2020 drilling program is to clearly define the limits of the mineralization to facilitate the resource calculations.
Walter Storm, President and CEO stated: "Our entire team has done an excellent job initiating an early start to our drill program in very difficult winter conditions. I am very pleased with the progress made to date. In an effort to extend our drilling season, we have submitted a permit application to the Ministry of Mines to construct a new drill camp that is much lower in elevation than our current camp. This new camp will be beneficial in extending the drill season into the fall months as crews will be able to access the drills without helicopter support, making it a much safer, cost effective and productive drilling season. We continue to work safely and productively, observing the protocols set out in our COVID-19 safety procedures."
The company also announces that further to its news release dated June 01 2020, it had issued 481,927 common shares of the Company in settlement of cash payments of $320,000 owed to Teuton Resources Corp, forming part of the consideration for the Company's option to acquire 100% interest in the Orion, Fairweather, Delta and High North properties located in the Golden Triangle of British Columbia.