November 14, 2014, Vancouver, BC: Teuton Resources Corp. (“Teuton”) (“TUO”-TSX-V) (“TFE”-Frankfurt) (“TEUTF”—OTCBB is pleased to report that the private placement, as announced September 8, 2014, is now complete. On November 13, 2014, the TSX Venture Exchange accepted for filing documentation with respect to the private placement.
The private placement was originally set for up to 5,000,000 units at a price of $0.10 per Unit, however only 2,295,000 Units for gross proceeds of $229,500 were completed. 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 $0.125 for a period of twelve (12) months after closing, and thereafter at a price of $0.15 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.
All securities issued pursuant to the private placement are subject to a hold period expiring on
March 14, 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 ev ents 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.
