September 29, 2014, Vancouver, BC: Teuton Resources Corp. (“Teuton”) (“TUO”-TSX-V) (“TFE”-Frankfurt) (“TEUTF”—OTCBBis pleased to report that the private placement announced August 5, 2014 has been completed. On Sept. 22, 2014, the TSX Venture Exchange accepted for filing documentation with respect to the private placement.
The private placement was for 9,000,000 units at a price of $0.05 per Unit, for gross proceeds of $450,000. Each Unit consists of one common share of Teuton and one common share-purchase warrant; each warrant will entitle the holder to purchase one additional common share of Teuton at a price of $0.07 for a period of twelve (12) months after closing, and thereafter at a price of $0.10 until twenty-four (24) months after closing.
Net proceeds from the private placement will go towards exploration of the Company’s mineral properties in the Stewart area of northwestern British Columbia, general corporate purposes, and payment of costs to the plaintiff in regard to the recent litigation on the Treaty Creek property. The main costs hearing for that litigation is scheduled for November 3, 2014, wherein the plaintiff will be seeking a substantially higher award of costs and which the Company will be opposing.
All securities issued pursuant to the private placement are subject to a hold period expiring on January 30, 2015.
Respectfully:
“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.
