Teuton Resources Corporation: Private Placement
08.07.2019 | The Newswire
Vancouver, July 8, 2019 - Teuton Resources Corp. ("Teuton" or "the Company") (TSXV:TUO) (OTC:TEUTF) (Frankfurt:TUC) announces that it intends to complete a non-brokered private placement consisting of the issuance of up to 3,500,000 units ("Units") at a price of $0.225 per Unit for gross proceeds of up to $787,500, subject to the approval of the TSX Venture Exchange. Each Unit will consist of one common share ("Common Share") and one Common Share purchase warrant ("Warrant"). Each Warrant is exercisable into one Common Share at a price of $0.30 for a period of two years from closing. A strategic investor has agreed to subscribe for 2,500,000 Units. There are no finder's fees associated with the transaction. Certain of the Company's insiders may participate in the private placement.The proceeds of the financing will be used to advance the Company's many properties in the Golden Triangle Region of northwestern British Columbia. A portion of the funds will be directed to general working capital.
About Teuton
Teuton owns interests in more than thirty properties in the prolific "Golden Triangle" area of northwestern British Columbia and was one of the first companies to adopt what has since become known as the "prospect generator" model. Eleven of its properties are currently under option and cash proceeds from these options are just under $2 million since 2015, not including the value of shares received from the optioning companies.
Teuton owns a 20% carried interest (carried until a production decision is made) in the Treaty Creek property as well as a 0.98% Net Smelter Royalty in the core portion of the Treaty Creek claims (0.49% in the outer perimeter) which is not subject to a buyback. It presently holds 2.2 million shares of Tudor Gold, the Operator of the Treaty Creek project.
Shareholders and other interested parties can access information about Teuton at the Company's website, www.teuton.com.
Respectfully:
"Dino Cremonese, P.Eng."
President, Teuton Resources Corp.
For more information contact Investor Relations at 778-430-5680 or barry@teuton.com
If you would like to be added to Teuton's news distribution list, please send your email address to dino@teuton.com
This news release includes certain forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. Teuton Resources Corp. does have an ongoing obligation to disclose material information, as it becomes available.
The TSX Venture Exchange has neither approved nor disapproved the information contained herein.
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