July 29, 2014, Vancouver, BC: Teuton Resources Corp. (“Teuton”) (“TUO”-TSX-V) (“TFE”-Frankfurt) (“TEUTF”—OTCBB) has agreed to complete a private placement to raise proceeds of up to $780,000. It has been agreed that the offering will comprise up to 6,000,000 units. Each unit will consist of one non-flow through share at $0.05 and one flow-through share at $0.08, for a unit price of $0.13 per unit. Each unit will also have two warrants, one warrant entitling the subscriber to purchase a non-flow through share at $0.12 for a two year period, and one warrant entitling the subscriber to purchase a flow through share at $0.12 for a two year period. Subscribers who cannot take advantage of the flow-through provisions or who do not wish to, will take both shares within the unit as if they were both non-flow through and their two warrants will be exercisable for non-flow through shares; all prices will remain the same.
Proceeds of the flow-through portion of the offering will be expended on exploration of the Company’s mineral properties in the Stewart area of northwestern British Columbia, with emphasis on the Del Norte, High and Orion properties. Proceeds of the non flow-through portion of the offering will be spent on general corporate purposes, including an interim payment on account 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, at which time the plaintiff is seeking a substantially higher award of costs and the Company is opposing that.
The private placement is subject to the approval of the TSX Venture Exchange.
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.
