VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 11, 2013) - Teuton Resources Corp. ("Teuton") (TSX VENTURE:TUO)(FRANKFURT:TFE)(OTCBB:TEUTF) has agreed to complete a private placement to raise proceeds of up to $250,000. It has been agreed that the offering will comprise up to 2,500,000 units at $0.10 per unit. Each unit will consist of one common share of the Company plus one warrant entitling the subscriber to purchase a common share at $0.125 for a two year period. Teuton will have the right to accelerate the expiry date of the warrants if, at any time, the volume weighted average price of Teuton's common shares is equal to, or greater than $0.30 for 5 consecutive trading days. In the event of acceleration, the expiry date will be accelerated to a date that is 30 days after Teuton issues a news release announcing that it has elected to exercise this acceleration right.
Proceeds of the offering will be expended on general corporate purposes and litigation.
The private placement is subject to approval from the regulatory authorities.
"Dino Cremonese, P.Eng."
President, Teuton Resources Corp.
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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.