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Teuton Resources Corp V.TUO

Alternate Symbol(s):  TEUTF

Teuton Resources Corp. is a Canada-based exploration stage company. The Company is in the business of acquiring, exploring and dealing in mineral properties in the province of British Columbia, Canada. It owns interests in more than thirty properties in the prolific Golden Triangle area of northwest British Columbia. The Company’s property portfolio includes, Treaty Creek Property, Eskay Rift Property, Harry Property, Del Norte Property, Lord Nelson Property, Orion Property, Big Gold Property, Tonga Property, Fiji Property, King Tut Property, Tuck Property, High North Property, Delta Property, Fairweather Property, Tennyson Property, Pearson Property, Clone Property, Four J’s Property, Konkin Silver Property, Midas Property, Bay Silver Property, Bonsai Property, Gold Mountain Property, Ram Property, Silver Leduc Property, Stamp Property, and Treaty East Property. The Lord Nelson claims lie immediately north of Teuton’s Del Norte property.


TSXV:TUO - Post by User

Bullboard Posts
Post by gratvalyouon Apr 14, 2015 1:20pm
252 Views
Post# 23628042

$540,000 from private placement

$540,000 from private placement

 

Teuton Resources raises $540,000 from private placement

2015-04-14 12:27 ET - News Release

 

Mr. Dino Cremonese reports

NEWS RELEASE---PRIVATE PLACEMENT

Teuton Resources Corp. has raised a total of $540,000, representing nine million units at six cents 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 6.5 cents for a period of three years from closing. There were 30 subscribers to the private placement.

A finder's fee consisting of $14,880 and 248,000 warrants at 6.5 cents a warrant (exercisable for three years) is payable to an arm's-length agent, Redplug Capital. Directors of the company subscribed for 700,000 units of the offering.

Together with $40,000 of 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.

We seek Safe Harbor.

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