August 17, 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 $200,000 in flow-through funds and $60,000 in regular funds.
The flow-through portion of the private placement will be entered into comprising an offering of 2,000,000 units at a price of $0.10 per unit, (the “Flow-Through Offering”). Each unit will consist of one flow-through share of Teuton and one warrant; each warrant will entitle the holder to purchase one additional share of Teuton at a price of $0.12 for a period of two years after the closing of the Flow-Through Offering. The regular portion of the private placement will be entered into comprising an offering of 800,000 units at a price of $0.075 per unit (the “Regular Offering”). Each unit will consist of one common share of Teuton and one warrant; each warrant will entitle the holder to purchase one additional share of Teuton at a price of $0.095 for a period of two years after the closing of the Regular 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 Flow-Through Offering will be used to explore the Company’s properties in the Stewart area of northwestern British Columbia. Net proceeds from the Regular Offering will be used for general corporate purposes.
The private placement is subject to the approval of the TSX Venture Exchange.
Exploration Plans for 2015
Contingent upon the success of the flow-through offering the Company plans to explore certain of the High North, Orion, Delta, Fairweather, Eskay Rift, Pearson, Del Norte and Gold Mountain properties. The area to the west and south of the two properties recently optioned to Pretium Resources—the King Tut and Tuck properties (comprising approximately 35% of the area of what was formerly known as the High property)—is particularly prospective. Emphasis will be placed on prospecting zones of glacial meltback on the High North, Orion, Delta and Eskay Rift claims.
The main thrust of this proposed work will be within 2km of the contact between Triassic and Jurassic age rocks (the favourable horizon as explained in a prior news release dated May 13, 2015). Interested readers can refer to the “Sulphurets and the Red Line” presentation on the company’s website for more details.
The Qualified Person for the purposes of this news release is D. Cremonese, P.Eng. Mr. Cremonese is the President of Teuton and as such is not independent of the Company.
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.
