$0.06 a unit , pursuant to the private placement announced on
TEUTON RESOURCES CORP.
202-2187 Oak Bay Avenue Victoria, BC V8R 1G1 Phone: (604) 682-3680 Fax: 682-3992 Toll Free: 1-800-879-2333 Website: www.teuton.com
NEWS RELEASE--- PRIVATE PLACEMENT
April 14, 2015, Vancouver, BC: Teuton Resources Corp. (“Teuton”) (“TUO”-TSX-V) ("TFE"- Frankfurt) (“TEUTF”—OTCBB) has raised a total of $540,000, representing 9,000,000 units at $0.06 a unit, pursuant to the private placement announced on Feb. 26, 2015 as amended on March 13, 2015. Each unit consists of one share plus one share purchase warrant entitling the subscriber to purchase another share at $0.065 cents for a period of 3 years from closing. There were 30 subscribers to the private placement.
A finder’s fee consisting of $14,880 and 248,000 warrants at $0.065 a warrant (exercisable for three years) is payable to an arms-length agent, Redplug Capital. Directors of the Company subscribed for 700,000 units of the offering.
Together with $40,000 proceeds from the sale of real estate, the $540,000 raised is allocated as follows: Finder’s fee, stock exchange and securities regulatory fees -- $20,000; payment of trial costs in regard to the Treaty Creek litigation plus bailiff’s fees--$336,000; general and administrative expenses -- $60,000; accounts payable -- $139,000; exploration - $25,000.
After the private placement is approved another news release announcing the closing will be issued.
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 [email protected].
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.