Teuton Resources Corp.(“Teuton”) (“TUO”:TSX-V; “TFE”-Frankfurt) announces that the private placement entered into on May 11, 2009 has been cancelled. Teuton now plans to raise up to $216,000 by the sale of 2,400,000 units at $0.09 per unit. The previous placement was set at $0.08 per unit. Each of the units will consist of one common share and one non-transferable share purchase warrant: one warrant will entitle the holder to purchase one additional common share at a price of $0.12 for two years from the date of the private placement.
The Company plans to use the funds for general corporate purposes. A finder’s fee or commission may be paid for a portion of the private placement in accordance with the policies of the TSX Venture Exchange. The private placement is subject to the approval of the TSX Venture Exchange.
ON BEHALF OF THE BOARD OF DIRECTORS
TEUTON RESOURCES CORP.
Dino Cremonese, P.Eng.”
Dino Cremonese, P.Eng.
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. Silver Grail Resource Ltd. And Teuton Resources Corp. do 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.