VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 15, 2014) - Teuton Resources Corp. ("Teuton", "the Company") (TSX VENTURE:TUO)(FRANKFURT:TFE)(OTCBB:TEUTF) announces a litigation update in regard to Supreme Court of British Columbia, Vancouver Registry, Action No. S-107895; American Creek Resources Ltd. ("AMK") v. Teuton Resources Corp. ("the Action").
The Supreme Court of British Columbia has issued Reasons for Judgment with respect to the trial of the Action.
The Court held that AMK is entitled to an order that TUO forthwith transfer to AMK legal title to TUO's mineral claims known as the Treaty Creek Property and that AMK will henceforth hold an undivided 49% interest in those mineral claims in trust for the Company.
The Court's decision does not affect title to any of the Company's other properties.
The Court dismissed AMK's claim for punitive damages and granted liberty to the parties to speak to costs.
The Company intends to appeal the Court's decision.
The Company has posted a link to the full text of the Reasons for Judgment on the Company's website.
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 firstname.lastname@example.org.
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.