Vancouver, BC – May 25, 2018– Teuton Resources Corp. (“Teuton” or “the Company”) (“TUO”-TSX-V) (“TUC”-Frankfurt) announces that stock options previously granted to directors and consultants on July 18, 2016 and on December 22, 2017 were not properly executed and hence are void ab initio. New, properly constituted agreements will be entered into today, with exercise terms identical to the previous grants. The grantees have consented to the procedure.
Accordingly, in conformance with its stock option plan, the Company now grants to directors and consultants options to purchase 1,300,000 shares of the Company at a price of $0.27 per share, exercisable until July 18, 2021; 500,000 of this total has been granted to AviTerra Consultants, a company with which Teuton has an investor relations agreement, the remainder to directors.
Also, in conformance with its stock option plan, the Company today grants directors and consultants options to purchase an additional 1,500,000 shares of the Company at a price of $0.195 per share, exercisable until Sept. 21, 2022; 500,000 of this total has been granted to AviTerra Consultants, the remainder to directors.
The price of Teuton’s stock closed yesterday at $0.19 per share.
The stock option plan is a fixed, less than or equal to 10% plan.
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 have exceeded $1.45 million in the past two years, not including the value of shares received from the optioning companies. 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.