Teuton Resources Corp.: Private Placement Oversubscribed, Increased to $1,334,640 Due to Demand
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 08/03/12 -- Teuton Resources Corp. ("Teuton") (TSX VENTURE: TUO)(OTCBB: TEUTF)(FRANKFURT: TFE) is pleased to announce that the private placement announced June 12, 2012 and amended June 28, 2012 has been completed, subject to regulatory approval. Due to strong demand it was oversubscribed again.
The placement, which was originally increased from $576,000 to $960,000, has now been completed at $1,334,640. It consists of 4,170,750 units at $0.32 per unit. Each unit will consist of one common share of the Company plus one warrant entitling the subscriber to purchase a common share at $0.35 for a two year period.
Funds will be used to further exploration of its many properties in the Stewart region, to pay for litigation, and for general corporate purposes.
Dino Cremonese, P.Eng., President
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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.
Contacts:
Teuton Resources Corp.
Dino Cremonese, P.Eng.
President
(604) 682-3680 or Toll Free: 1-800-879-2333
682-3992 (FAX)
www.teuton.com
