News Summary
On December 15, 2025, Tudor Gold announced the closing of a brokered private placement under the Listed Issuer Financing Exemption (LIFE) for gross proceeds of $11.5 million. The offering was upsized from the previously announced $10 million on December 2, 2025.
The company issued 14,375,000 units at a price of $0.80 per unit. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at an exercise price of $1.20 for a period of 24 months.
The use of proceeds is for working capital and general corporate purposes. The company noted that strategic resource investor Eric Sprott participated in the offering. Agents received a cash fee of $690,000 and 750,000 non-transferable warrants exercisable at $1.20 for 24 months.
Material Impact
The closing of this $11.5 million financing is materially positive and, given the context and specific participants, qualifies as a game-changer for the company. This financing was completed just four days after the company closed a separate, upsized $12.5 million flow-through financing. In total, Tudor Gold has added approximately $24 million to its treasury in December.
Catalysts
– Updated Mineral Resource Estimate (MRE): In its November 3, 2025, news release, the company stated an updated MRE for Treaty Creek was targeted for completion in Q4 2025. This is the most significant near-term catalyst and is now imminent. The update will incorporate ~15,000 meters of 2024-2025 drilling and use a smaller block model (5x5x5m) intended to provide better resolution of the high-grade zones like SC-1.
– Underground Ramp Permit: The company filed for a permit to construct an underground exploration ramp in Q3 2025. News on the receipt of this permit is a critical de-risking milestone that will enable more cost-effective, year-round drilling of the high-grade SC-1 targets.
– 2026 Exploration Program Details: With a full treasury, the company is expected to announce a comprehensive and aggressive exploration plan for 2026, likely focused on expanding the high-grade SC-1 zone and further definition drilling.
Materiality Conclusion
The successful closing of upsized financings totaling ~$24 million is highly material. It provides the financial runway needed to advance the Treaty Creek project through its next critical phase of value creation. The endorsement from Eric Sprott further de-risks the investment thesis from a market confidence perspective, making this a game-changing event for the company’s financial stability.
