(TheNewswire)
August 10, 2021 - TheNewswire - Vancouver, Canada - TeutonResources Corp. (“Teuton” or “the Company”) ( TSXV: TUO) (OTC:TEUTF) ( Frankfurt: TFE) has entered into a private placement with Decade ResourcesLtd. (“Decade”), subscribing for 10,000,000 non-flow-throughcommon units at a price of $0.05 per unit. Each unit consists of onenon-flow-though common share and one warrant good for two years topurchase another non-flow-though common share at $0.08 per share.Total investment is $500,000. Net proceeds ofthe private placement will be used to advance exploration of the DelNorte property as well as for general working capital purposes. Allsecurities issued pursuant to the Private Placement are subject to astatutory four-month hold period. No finder's fees were paid inconnection with the Private Placement. The Private Placement issubject to approval of the TSX Venture Exchange.
Dino Cremonese, President and CEO ofTeuton commented: “This investment was madeprimarily on the strength of the Del Norte gold-silver property,however we also took into consideration the many other precious metalproperties owned by Decade in the Golden Triangle such as the RedCliff. We also recognize Ed Kruchowksi, President of Decade, as avery seasoned explorer who has more than forty years of experience inthe region and who has participated in many discoveries therein duringthat time.”
Ed Kruchkowski, President and CEO of Decade Resources,stated : “This significant equity investment byTeuton, the optionor of the Del Norte, is a very strong endorsement ofboth Decade Resources and the Del Norte project. We are pleased thatour partner Teuton and their President and CEO Dino Cremonese have somuch confidence in the project and in Decade Resources as the operatorof the Del Norte project.”
About Teuton
Teuton owns interests in more than thirty properties inthe prolific Golden Triangle area of northwest British Columbia andwas one of the first companies to adopt what has since become known asthe “prospect generator” model. Teuton earned $3.9 million netincome in 2020 and a further $2.4 million in the first quarter of2021. Its income is derived from option payments.
One of the Teuton properties under option is the DelNorte, currently farmed out to Decade. Decade can earn a 55%interest in the property by spending $4,000,000 over four years and bymaking certain cash and share payments; It has a further option toacquire an additional 20% interest by taking the property toproduction. A joint venture between Teuton and Decade would follow(refer to Jan. 7, 2020 news release for full details).
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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