Stock Option Grants, Amendments
Victoria, May 7, 2021 - - Teuton Resources Corp. ("Teuton" or "the Company") (TSXV:TUO) (OTC:TEUTF) (Frankfurt:TFE) announces that, in conformance with its 2020 Stock Option Plan, the Company has granted to certain directors, options to purchase 342,500 shares of the Company at a price of $2.68 per share, exercisable until May 7, 2026. Also, stock options granted more than six months ago, being 500,000 shares at $3.18 per share (exercisable until August 26, 2025) and 200,000 shares at $2.78 per share (exercisable until Sept. 28, 2025) have had their exercise prices amended to $2.68 per share, the closing price of the Company's shares as of May 6, 2021. The stock option grant amendments are subject to the approval of the TSX-V Exchange and the approval of disinterested shareholders at the Company's upcoming Annual General Meeting to be held later in 2021. The stock option plan is a fixed, less than or equal to 10% plan.
About Teuton
Teuton owns interests in more than thirty properties in the prolific "Golden Triangle" area of northwest British Columbia and was one of the first companies to adopt what has since become known as the "prospect generator" model. Ten of these properties are currently under option to third parties. Over $2 million in option cash payments (not including appreciable payments made in shares) has been generated from these properties since 2015, including properties where optionees have already earned their interest.
Teuton was the original staker of the Treaty Creek property assembling the core land position in 1985. It presently holds a 20% carried interest in Treaty Creek (carried until such time as a production decision is made). Interested parties can access information about Teuton at the Company's website, www.teuton.com.
Respectfully submitted,
"Dino Cremonese, P.Eng."
Dino Cremonese, P. Eng.,
President and Chief Executive Officer
For further information, please visit the Company's website at www.teuton.com or contact:
Barry Holmes
Director Corporate Development and Communications
Tel. 778-430-5680
Email: barry@teuton.com
Neither the 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.
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 relating to 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. Important factors that could cause actual results to differ materially from the Company's plans or expectations include 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. 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.
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