July 2, 2019 Vancouver, BC: Teuton Resources Corp. (“Teuton” or “the Company”) (“TUO”-TSX-V) (“TUC”- Frankfurt) has adopted a new stock option plan, called the “2019 Stock Option Plan” to replace its old stock option plan. The new plan is a Fixed less than or equal to 10% plan, in accordance with TSX-V policy. It is identical to the old plan except that the number of shares which may be issued according to the plan has increased due to the increase in the Company’s shares outstanding.
The number of shares which can be reserved for issuance under the plan is 3,931,688, which is 10% of the 39,316,881 shares currently outstanding; of this amount, 2.8 million have already been granted pursuant to the old plan, which is rolled into the new one. The new plan is subject to acceptance by the TSX Venture Exchange.
Teuton owns interests in more than thirty properties in the “Golden Triangle” region 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. The Company’s share portfolio includes 2.2 million shares of Tudor Gold, operator of the Treaty Creek property.
Shareholders and other interested parties can access information about Teuton at the Company’s website, www.teuton.com.
“Dino Cremonese, P.Eng.”
President, Teuton Resources Corp.
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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.