Teuton Resources Corp.
TSX VENTURE : TUO
FRANKFURT : TFE
OTCBB : TEUTF

Teuton Resources Corp.

September 08, 2014 09:25 ET

Teuton Resources Corp.: Private Placement; Tennyson Property Returned

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 8, 2014) - Teuton Resources Corp. ("Teuton") (TSX VENTURE:TUO)(FRANKFURT:TFE)(OTCBB:TEUTF) is arranging an offering of 5,000,000 units (each a "Unit) at a price of $0.10 per Unit, for gross proceeds of up to $500,000 (the "Offering"). Each Unit will consist 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 the closing of the Offering, and thereafter at a price of $0.15 until twenty-four (24) months after the closing of the Offering. This private placement is in addition to the one announced on August 5, 2014.

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. The Offering is subject to regulatory approval.

Net Proceeds from the Offering will be used to fund exploration of the Company's mineral properties in the Stewart area of northwestern British Columbia, for payment of court costs, and for general corporate purposes.

Tennyson Property Returned

Title to the Tennyson property has now been passed back to Teuton from Brigade Holdings, a Hunter Dickinson company. Teuton gave up its subscription rights in Brigade in consideration for the return of the property. Brigade explored the Tennyson property from 2012 to 2013 carrying out a 16-hole drill program and spending over $3 million.

D. Cremonese, P.Eng., President of Teuton commented as follows: "I would like to take this opportunity to thank the people at Brigade/Hunter Dickinson for diligently exploring the Tennyson property, particularly as it was a difficult time to raise money for such projects."

Teuton will be seeking out new option partners for the Tennyson copper-gold porphyry targets.

About Teuton:

Teuton owns interests in more than thirty properties in the prolific "Golden Triangle" area of northwestern British Columbia. It was one of the first companies to adopt what has since become known as the "prospect generator" model. This involves acquiring ground by staking, grooming it, and then optioning it out to third parties. Instead of having one or two properties to explore, work which must be financed internally, prospect generators can have interests in multiple properties because the work is carried out and financed by others.

The Qualified Person for the purposes of this news release is D. Cremonese, P.Eng. Mr. Cremonese, P.Eng., is the President of Teuton Resources Corp. and 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 gary.teuton@shawlink.ca.

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.

Contact Information

  • Teuton Resources Corp.
    (604) 682-3680
    Toll Free: 1-800-879-2333
    682-3992 (FAX)
    www.teuton.com