June 2, 2015 Teuton Resources Corp. (“Teuton”) (“TUO”-TSX-V) (“TFE”- Frankfurt) (“TEUTF”—OTCBB) announces that the directors of the Company are voluntarily cancelling all existing stock options that were issued to them in prior years. A new stock option plan is to be approved at the upcoming Annual General Meeting scheduled for June 26, 2015.
The Company on June 1, 2015 paid $32,000 to American Creek’s solicitor in regard to the advance payment of $165,000 which was due on that date. In combination with over $13,000 which had been previously seized from the Company’s account but not returned, this leaves approximately $120,000 yet to be paid. Execution proceedings could be taken against the Company to collect this debt.
In other proceedings the Company has agreed to pay $47,500 to American Creek by August 31, 2015 in satisfaction of costs associated with the appeal of the Treaty Creek litigation.
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.
