Teako Minerals Announces Financings
1100 – 1111 Melville Street, Vancouver, BC, V6E 3V6 TEL (778) 989-1501
www.teakominerals.com
Not for dissemination in the United States or through U.S. newswires
TEAKO MINERALS ANNOUNCES FINANCINGS
VANCOUVER, B.C. – July 6, 2023, TEAKO MINERALS CORP. ( CSE: TMIN ) (the
"Company" or " Teako") is pleased to announce a non -brokered private placement of up to
$1,720,000 (the “Private Placement”).
The Private Placement will consist of the issuance of up to 12,000,000 units (each, a “Non-FT
Unit”) at a price of $0.10 per Non-FT Unit, for gross proceeds of up to $1,200,000, and up to
4,000,000 flow-through shares (each, a “FT Share”) at a price of $0. 13 per FT Share, for gross
proceeds of up to $520,000.
Each Non-FT Unit will be comprised of one common share of the Company and one -half of one
common share purchase wa rrant (each whole common share purchase warrant, a “Warrant ”),
with each Warrant entitling the holder thereof to purchase one common share at a price of $0.20
for a period of 36 months from closing of the financing. Each FT Share will be comprised of one
flow-through common share of the Company within the meaning of the Income Tax Act (Canada).
The Warrants will include an acceleration clause to the effect that if at any time after the statutory
4-month and one day hold period from the closing date, the daily volume weighted average closing
price of the common shares on the CSE is at least $0.40 per share for a period of 10 consecutive
trading days (the "Triggering Event") the Company may, within 5 days of the Triggering Event,
accelerate the expiry date of the Warrants by giving notice thereof to the holders of the Warrants,
by way of news release, and in such case the Warrants will expire on the first day that is 30 calendar
days after the date on which such notice is given by the Company announcing the Triggering
Event.
The Company may pay a finder’s fee on the Private Placement within the maximum amount
permitted by the policies of the CSE. The Company may complete multiple closings of the Private
Placement, as subscriptions are received. Each closi ng is subject to a number of conditions,
including receipt of all necessary corporate and regulatory approvals.
Closing of the Private Placement is subject to certain customary conditions, including, without
limitation, approval of the CSE. The securities to be issued under the Private Placement will be
offered by way of private placement in the provinces of British Columbia, Alberta and Ontario
and such other provinces or territories of Canada as may be determined by the Company, in each
case, pursuant to applicable exemptions from the prospectus requirements under applicable
securities laws. Securities issued under the Private Placement will be subject to a hold period which
will expire four months and one day from the date of closing of the Private Placement. The Private
1100 – 1111 Melville Street, Vancouver, BC, V6E 3V6 TEL (778) 989-1501
www.teakominerals.com
Placement will be available under the accredited investor exemption as well as the existing
shareholder exemption described further below.
The Private Placement will be available to existing securityholders of the company utilizing B.C.
Instrument 45- 534 - Exemption from Prospectus Requirements for Certain Trades to Existing
Securityholders and other provincial equivalents. The Company will make the Private Placement
available to all shareholders of the C ompany as of July 6, 2023, who are eligible to participate
under the existing securityholder exemptions and who have notified the Company of their intention
to participate in the Private Placement. The existing securityholder exemptions limit a shareholder
to a maximum investment of $15,000 unless the shareholder certifies in the subscription agreement
that they have obtained advice regarding the suitability of the investment from a registered
investment dealer or otherwise qualifies to rely on another private placement exemption.
In the subscription agreement, shareholders will be required to certify that, on or before the record
date of July 6, 2023, they acquired and held shares. Each existing shareholder on the record date
will be entitled to purchase shares which will be allocated by the C ompany on a first-come, first-
served basis such that it is possible that a subscription received from a shareholder may not be
accepted by the Company if the Private Placement is oversubscribed. Any person who becomes a
shareholder of the Company after the record date shall not be entitled to participate in the P rivate
Placement under the existing securityholder exemptions.
The Company intends to use the proceeds from the Private Placement to advance the exploration
on its optioned Pinnacle Property, 100% owned BQ Property, to review and complete due
diligence on other potential exploration projects in Norway and Finland, and general and
administration costs.
Sven Gollan, CEO of Teako Minerals Corp., comments, “This Private Placement will provide us
with the resources needed to drive our C ompany forward and seize new opportunities within our
business. We extend our gratitude to our shareholders for their unwavering support and belief in
our vision. I welcome both existing and prospective investors to participate. Together, we will
continue to shape the future of Teako Minerals.”
About Teako Minerals Corp.:
Teako Minerals Corp., is a Vancouver -based mineral exploration company committed to the
acquisition, exploration, and development of mineral properties in Canada and globally. T he
adoption of advanced technologies such as the SCS Exploration Product aligns with its strategy to
remain at the forefront of the rapidly evolving mining industry.
ON BEHALF OF TEAKO MINERALS CORP.
1100 – 1111 Melville Street, Vancouver, BC, V6E 3V6 TEL (778) 989-1501
www.teakominerals.com
"Sven Gollan"
CEO
T: +43 5522 500429
Email: [email protected]
Forward-Looking Information:
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the
business of Teako. Forward-looking information is based on certain key expectations and assumptions made by the management
of Teako. In some cases, you can identify forward-looking statements by the use of words such as "will,” "may,” "would,” "expect,”
"intend,” "plan,” "seek,” "anticipate,” "believe,” "estimate,” "predict,” "potential,” "continue,” "likely,” "could" and variations of
these terms and similar expressions, or the negative of these terms or similar expressions. Forward-looking statements in this press
release include that (a) this Private Placement will provide us with the resources needed to drive our Company forward and seize
new opportunities, (b) the Company may, within 5 days of the Triggering Event, accelerate the expiry date of the Warrants, (c) the
Company may pay a finder’s fee on the Private Placement , (d) the Company may complete multiple closings of the Private
Placement, and (e) the Company intends to use the proceeds from the Private Placement as described . Although Teako believes
that the expectations and assumptions on which such f orward-looking information is based are reasonable, undue reliance should
not be placed on the forward-looking information because Teako can give no assurance that they will prove to be correct.
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy
of the contents of this release.