The private placement will now consist of an offering of 9,000,000 units (each a “Unit) at a price of
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 TERMS REVISED
March 13, 2015, Vancouver, BC: Teuton Resources Corp. (“Teuton”) (“TUO”-TSX-V) ("TFE"-Frankfurt) (“TEUTF”—OTCBB) due to market conditions, is revising the terms of the private placement announced Feb. 26, 2015.
The private placement will now consist of an offering of 9,000,000 units (each a “Unit) at a price of $0.06 per Unit, (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 $0.065 for a period of three years after the closing of the Offering. Teuton’s share price closed at $0.065 a share on February 12, 2015.
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 will 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.
Net Proceeds from the Offering will be used for general corporate purposes, to fund exploration of the Company’s mineral properties in the Stewart area of northwestern British Columbia and to pay costs associated with the litigation on the Treaty Creek property. The first moneys raised will go towards payment of the $321,000 currently owed to American Creek Resources in regard to the Treaty Creek litigation.
The private placement is subject to the approval of the TSX Venture Exchange.
The appeal of the Treaty Creek litigation judgment was heard from March 9 to March 11, 2015 and a decision was reserved. It will be announced as soon as it is reported to the Company.
Respectfully:
“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.