Soybeans Falls Even After Flash Sale to China — Market Talk

Vancouver, British Columbia--(Newsfile Corp. - December 15, 2025) - Tudor Gold Corp. (FSE: H56) (the "Company" or "Tudor Gold") is pleased to announce that it has closed its previously announced brokered, best-efforts private placement offering (the "Offering") of 14,375,000 units of the Company (the "Units") at a price of $0.80 per Unit for aggregate gross proceeds of $11.5 million, including the full exercise of the over-allotment option. The Offering was led by Research Capital Corporation, as the lead agent and sole bookrunner and Roth Canada, Inc. (collectively, the "Agents").

Each Unit consists of one common share of the Company (a "Common Share") and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each whole Warrant entitles the holder thereof to purchase one Common Share at an exercise price of $1.20 per Common Share for a period of 24 months following the closing of the Offering.

The Offering was completed by way of the listed issuer financing exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions ("Listed Issuer Financing Exemption"). The Units offered under the Listed Issuer Financing Exemption will be immediately "free-trading" upon closing of the Offering under applicable Canadian securities laws.

The net proceeds from the Offering will be used for working capital and general corporate purposes.

A related party of the Company acquired 2,500,000 Common Shares and 1,250,000 Warrants pursuant to the Offering. The issuance of such securities to this related party is considered to be a related party transaction within the meaning of TSXV Policy 5.9 and Multilateral Instrument 61-101 ("MI 61-101"). The Company has relied on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 (and Policy 5.9) as the fair market value of the securities issued to such party does not exceed 25% of the Company's market capitalization. The Company did not file a material change report in respect of the related party transaction at least 21 days prior to the closing of the Offering, which the Company deems reasonable in the circumstances so as to be able to avail itself of the proceeds of the Offering in an expeditious manner.

In connection with the Offering, the Company paid to the Agents a cash commission of approximately $690,000 and issued to the Agents 750,000 non-transferable broker warrants (the "Broker Warrants"). Each Broker Warrant entitles the holder thereof to purchase one Common Share at an exercise price of $1.20 per Common Share for a period of 24 months from the date of issuance.

The Offering is subject to the final approval of the TSX Venture Exchange ("TSXV").

The securities described herein have not been, nor will they be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Tudor Gold

Tudor Gold is a precious and base metals exploration and development company with claims in British Columbia's Golden Triangle (Canada), an area that hosts producing and past-producing mines and several large deposits that are approaching potential development. The 17,913 hectare Treaty Creek Project (in which Tudor Gold has an 80% interest) borders Seabridge Gold Inc.'s KSM property to the southwest and borders Newmont Corporation's Brucejack Mine property to the southeast.

For further information, please visit the Company's website at www.tudor-gold.com or contact:

• Joseph OvsenekPresident & CEO(778) 731-1055Tudor Gold Corp.Suite 789, 999 West Hastings StreetVancouver, BCV6C 2W2info@tudorgoldcorp.com(SEDAR+ filings: Tudor Gold Corp.)

• Chris Curran

  Vice President of Investor Relations and Corporate Development

  (604) 559-8092

  chris.curran@tudor-gold.com

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including statements regarding the anticipated use of proceeds from the Offering and receipt of regulatory approvals with respect to the Offering. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof.

Such forward-looking information and statements are based on numerous assumptions, including among others, that the Company's planned exploration activities will be completed in a timely manner, that the Company will use the proceeds of the Offering as anticipated and that the Company will receive regulatory approval with respect to the Offering. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.

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. Important factors that could cause actual results to differ materially from the Company's plans or expectations include the risk that the Company will not use the proceeds of the Offering as anticipated, that the Company will not receive regulatory approval with respect to the Offering, risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.

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.

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/278059

By Dominic Chopping

The European Commission handed a $84.5 million fine to companies that make starter batteries for cars and a trade body, saying they breached antitrust rules.

The commission--the European Union's executive arm--said Monday that the group of manufacturers and a trade association collaborated for over 12 years in what it called anticompetitive agreements and practices related to the sale of automotive starter batteries to automakers in the European Economic Area.

It said the companies and trade association Eurobat agreed to create a standardized premium based on the price of lead, which was then used in negotiations with automakers to keep prices at a higher level than they otherwise would have been. Lead is the most important input material and cost factor for car starter batteries, which are used to help start the engine in vehicles powered by traditional combustion engines, while also supplying power to the electrical equipment.

The commission added that while a surcharge is a legitimate tool suppliers use to reflect changes in raw material costs in product prices, it is illegal for suppliers to secretly coordinate to introduce and use such a surcharge as an industry-wide standard.

"This cartel restricted competition and may have led to higher prices for the manufacturing of cars and trucks in Europe," the commission said.

Exide Technologies, Fiamm Energy Technology and its predecessor Elettra, as well as Rombat and Eurobat have been fined a total of around 72 million euros ($84.5 million).

Another company, Clarios, wasn't fined "as it revealed the cartel to the commission under the leniency program," the commission said.

Eurobat said it disagrees with the commission's decision and is disappointed its arguments weren't accepted, namely that it wasn't aware of this misconduct. The trade group rejects that it facilitated or passively allowed any illegal conduct.

"We will now first study the decision from the EC with our legal counsel and reflect on eventual next steps," a spokesperson said. "Eurobat looks forward to putting this investigation behind it (subject to any appeal) and moving forward."

Exide said in a statement that the conduct referred to in the commission's investigation was discontinued long ago, before the current Exide Group was established in 2020, and didn't involve any of the current management of Exide Technologies.

It said in its view, the matter relates to historic standard industry processes and was a valid benchmarking mechanism related to a small lead-related cost.

"The company is currently reviewing the decision and considering a potential appeal," Exide said.

The company's fine amounts to 30 million euros, payable over a five-year period, and will not impact its strategic projects or operational performance.

Rombat has been fined 20.2 million euros, and it said that alongside its Metair parent company it will consider the commission's findings, including an assessment of all legal options.

"The fine is likely to have serious financial implications on Rombat's business operations," it said.

Fiamm didn't respond to a request for comment.

Write to Dominic Chopping at dominic.chopping@wsj.com

10:19 ET--The outlook for pork demand heading into 2026 is a key source of conversation among analysts. "Pork demand has increased and into 2026 traders will be watching to see if pork consumption continues to increase as it has to compete with poultry and ground beef," says ADM Investor Services in a note. The firm adds that hog weights are steady, which is pressuring the hog contract today. CME lean hogs are down 1.5%, while live cattle falls 0.1%. (kirk.maltais@wsj.com)

US natural gas futures fell more than 2% to around $4 per MMBtu, extending losses for a third consecutive session and marking the lowest level since late October.

Weather forecasts across the US point to above-average temperatures for much of the country ahead of Christmas, which could curb heating demand.

At the same time, record production levels and ample storage supplies continue to weigh on prices.

LSEG estimates Lower-48 output at around 109.7 Bcf/d so far in December, broadly in line with the record highs set in November.

According to the latest EIA data, US utilities withdrew 177 Bcf from underground storage in the week ended December 5, slightly above expectations and representing the first significant draw of the season.

Meanwhile, US LNG exports remain robust, with shipments in November reaching a record 10.9 million metric tonnes, around 70% of which were destined for Europe.

Coffee decreased to 383.45 USd/Lbs, the lowest since October 2025.

Over the past 4 weeks, Coffee lost 3.54%, and in the last 12 months, it increased 19.78%.

WINNIPEG, Manitoba--Canola futures on the Intercontinental Exchange resumed its downturn in early Monday trading, with the March contract C$30 per tonne below its 20- and 50-day averages.

Chicago soyoil, European rapeseed and Malaysian palm oil were lower to start the day. Crude oil was also down slightly as oversupply fears outweighed tensions between the United States and Venezuela.

The Canadian dollar was steady compared to Friday's close.

Nearly 16,200 contracts were traded. Prices in Canadian dollars per metric ton as of 8:39 CST:

 
           Price      Change 
Jan       604.60     dn 1.90 
Mar       617.20     dn 1.90 
May       628.50     dn 2.50 
Jul       636.20     dn 2.70 
 

Source: Commodity News Service Canada, news@marketsfarm.com