Teuton Resources Corp. (“Teuton”) (“TUO”:TSX–V; “TFE”-Frankfurt) announces that the Company has elected to adopt a shareholder rights plan that will be presented for ratification by the shareholders of the Company at the Company’s annual general meeting to be held on June 20, 2008.
The shareholder rights plan has been adopted to ensure the fair treatment of all shareholders with respect to any takeover bid for the common shares of the Company. It is designed to provide shareholders with sufficient time to properly consider a takeover bid without undue time constraints. In addition, it will provide the board with additional time for review and consideration of an unsolicited takeover bid and, if necessary, for the consideration of alternatives.
The rights plan is not being adopted in response to any proposal to acquire control of the Company. In other corporate developments, the Company has agreed, subject to regulatory approval and disinterested shareholder approval, to re-price current incentive options for the purchase of up to 1,200,000 shares in its capital at a purchase price of $0.27 per share (reduced from $0.47 per share).
ON BEHALF OF THE BOARD
“Dino Cremonese”
D. Cremonese, P.Eng.
President
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 not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
