(TheNewswire)
November 8, 2021 - TheNewswire - Victoria , Canada - TeutonResources Corp. (“Teuton” or “the Company”) ( TSXV: TUO) (OTC: TEUTF) ( Frankfurt: TFE) announces that, in conformance with its2020 Stock Option Plan, the Company has amended certain incentivestock options previously granted to directors of the Company. On May7, 2021, 500,000 stock options originally priced at $3.18 per share(exercisable until August 26, 2025) and 200,000 stock optionsoriginally priced at $2.78 per share (exercisable until Sept. 28,2025) had their exercise prices amended to $2.68 per share; these700,000 stock options are now re-priced to $2.06 per share, six monthshaving passed since the last amendment. All other terms of theoriginal stock option grants remain unchanged. These stock optiongrant amendments are subject to the approval of the TSX VentureExchange and the approval of disinterested shareholders at theCompany’s upcoming Annual General Meeting to be held Dec. 22, 2021.
In addition, 342,500 stock options granted to adirector on May 7, 2021 at $2.68 per share exercisable until May 7,2026, will also be amended. The new exercise price for these342,500 stock options is now $2.06 per share, all other terms of theoriginal stock option grant remain unchanged. This stock optiongrant amendment is subject to the approval of the TSX Venture Exchangeand the approval of disinterested shareholders at the Company’supcoming Annual General Meeting to be held Dec. 22, 2021.
Teuton’s share price closed today on the TSX VentureExchange at $2.06 a share.
About Teuton
Teuton owns interests in more than thirty properties inthe prolific “Golden Triangle” area of northwest British Columbiaand was one of the first companies to adopt what has since becomeknown as the “prospect generator” model. Teuton earned $3.9million net income in 2020 and a further $2.4 million in the firstquarter of 2021. Its income is derived from option payments.
Teuton was the original staker of the Treaty Creekproperty, host to the large Goldstorm deposit, assembling the coreland position in 1985. It presently holds a 20% carried interest inTreaty Creek (carried until such time as a production decision ismade). Interested parties can access information about Teuton at theCompany’s website, www.teuton.com .
Respectfully submitted,
"Dino Cremonese, P.Eng."
Dino Cremonese, P. Eng.,
President and Chief ExecutiveOfficer
For further information, please visit the Company'swebsite at www.teuton.com or contact:
Barry Holmes
Director Corporate Development andCommunications
Tel. 778-430-5680
Email: barry@teuton.com
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.
CautionaryStatements regarding Forward-Looking information
Certain statementscontained in this press release constitute forward-lookinginformation. These statements relate to future events or futureperformance. The use of any of the words "could","intend", "expect", "believe","will", "projected", "estimated" andsimilar expressions and statements relating to matters that are nothistorical facts are intended to identify forward-looking informationand are based on the Company's current belief or assumptions as to theoutcome and timing of such future events. Actual future results maydiffer materially.
All statementsrelating to future plans, objectives or expectations of the Companyare forward-looking statements that involve various risks anduncertainties. There can be no assurance that such statements willprove to be accurate and actual results and future events could differmaterially from those anticipated in such statements. Importantfactors that could cause actual results to differ materially from theCompany's plans or expectations include risks relating to the actualresults of current exploration activities, fluctuating gold prices,possibility of equipment breakdowns and delays, exploration costoverruns, availability of capital and financing, general economic,market or business conditions, regulatory changes, timeliness ofgovernment or regulatory approvals and other risks detailed herein andfrom time to time in the filings made by the Company with securitiesregulators. The Company expressly disclaims any intention orobligation to update or revise any forward-looking statements whetheras a result of new information, future events or otherwise except asotherwise required by applicable securities legislation.
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