Tudor Gold Announces Amendment to Option Agreement on Doc Property
TSX VENTURE: TUD
Vancouver, British Columbia--(Newsfile Corp. - September 12, 2018) - Tudor Gold Corp. (TSXV: TUD) (FSE: TUC) ("Tudor" or the "Company") announces that it has entered into an agreement (the "Amending Agreement") with John Bot (the "Optionor") amending certain payment terms of the original option agreement (the " Original Option Agreement") to acquire a 100% interest in the Doc Property (the "Property").
The Amending Agreement provides for the issuance of 150,000 common shares (the "Shares") of the Company at $0.30 per Share in lieu of a cash payment of $50,000 due on September 15, 2018 as well as an extension of the remaining scheduled payments. The balance of payments and all other terms of the Original Option Agreement remain as set out in the Original Option Agreement.
Payment schedule per the Amending Agreement as follows:
$50,000 due on or before November 20, 2018 has been extended to August 29, 2019; and
$1,825,000 due on or before November 20, 2019 has been extended to August 29, 2020.
About Tudor Gold
Tudor Gold is a precious and base metals explorer in British Columbia's Golden Triangle, an area which hosts multiple past-producing mines and several large world-class 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 several other mineral properties, all of which are located in the Golden Triangle area.
President and Chief Executive Officer
For further information, please visit the Company's website at www.tudor-gold.com or contact:
CHF Capital Markets
Chief Executive Officer
Tel: 416-868-1079 Extension 231
Cautionary Statements regarding Forward-Looking Information
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 Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially.
All statements including, without limitation, statements relating to payments on the Doc Property as well as any other future plans, objectives or expectations of the Company are forward-looking statements that involve various risks and uncertainties. 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. 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.
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.