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Tudor Gold Corp
Symbol TUD
Shares Issued 168,673,206
Close 2020-10-29 C$ 2.90
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Tudor Gold sued by Uren over 35-cent option

2020-10-29 19:37 ET - Street Wire

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by Mike Caswell

Tudor Gold Corp., a TSX Venture Exchange listing that has enjoyed a considerable boost to its share price in recent months, is facing a lawsuit in the Supreme Court of British Columbia over a 35-cent stock option. A consultant claims that the company improperly ended his contract so it would not have to honour an option it had granted him in 2019. Exercising just a portion of that option would have generated a $380,000 profit, the suit claims.

The allegations are contained in a notice of claim filed at the Vancouver courthouse on Oct. 27, 2020, by Shane Uren, a registered professional biologist. Mr. Uren identifies himself as a consultant to mining companies, with his services including those associated with environmental permitting. He provides those services through his company, Greenwood Environmental Inc.

According to the suit, Mr. Uren did work on Tudor's Electrum project in 2018, submitting government paperwork for a pair of bulk samples (one for 1,000 tonnes and another for 10,000 tonnes). The stock option that Mr. Uren complains of arose in 2019, after the company had not paid him for all of his work. In lieu of his ordinary payment, Tudor agreed to issue him an option for 800,000 shares at 35 cents, the suit claims. The company was to issue the option in stages, with the first 100,000 shares available immediately and the remainder to be issued as the company received various permits.

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