May 29, 2015, 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 $240,000.
The private placement will be entered into comprising an offering of 4,000,000 units (each a “Unit) at a price of $0.06 per Unit, (the “Offering”). Each Unit will consist 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 three years after the closing of the Offering.
A finder’s fee, up to the maximum allowable under TSX Venture policy, may be payable in regard to the Offering. Insiders of the Company may be taking part in the Offering. All securities issued by the Offering will be subject to a hold period of four months plus one day.
Net Proceeds from the Offering will be used to fund amounts associated with the Treaty Creek litigation, exploration of the Company’s mineral properties in the Stewart area of northwestern British Columbia, accounts payable and general corporate purposes. The first moneys raised will go towards paying what is owed to American Creek Resources in regard to an award of costs made against the Company in regard to the Treaty Creek litigation.
The private placement is subject to the approval of the TSX Venture Exchange.
Respectfully:
“Dino Cremonese, P.Eng.”
President,
Teuton Resources Corp.
If you would like to be added to Teuton’s news distribution list, please send your email address to dino@teuton.com.
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.
