Teuton Resources and Luxor Metals Close Plan of Arrangement
Victoria, May 16, 2025 - Teuton Resources Corp. ("Teuton" or the "Company")(TSXV:TUO, Frankfurt:TFE, OTCQB:TEUTF) and Luxor Metals Ltd. ("Luxor") announce that the previously announced spin-out transaction involving both parties, implemented by way of a plan of arrangement (the "Arrangement"), has closed on May 16, 2025. Pursuant to the Arrangement, Teuton has transferred to Luxor $1.9 million in cash and securities, and mineral claims covering approximately 20,481 hectares in northwestern British Columbia (the "Luxor Project"). As consideration for the aforementioned assets, Luxor has issued 19,248,960 common shares (the "Consideration Shares") to Teuton, who will in turn distribute such shares to Teuton shareholders on a pro rata basis. The Consideration Shares have an approximate value of $0.22 per share at closing.
Teuton shareholders of record as of February 14, 2025 (the "Record Date") will be entitled to receive one Luxor share for every three Teuton shares they hold on the Record Date. No action is required by Teuton shareholders to receive the Luxor shares; direct registration statements representing their Luxor shares will be sent to them in due course.
Further details regarding the Arrangement can be found in Teuton's management information circular dated March 7, 2025, and filed on SEDAR+ (ww.sedarplus.ca). In addition, information about the Luxor Project is contained in NI 43-101 Technical Report on the Luxor Project prepared by Tony Barresi, P.Geo, which will be filed under Luxor's profile on SEDAR+.
Luxor intends to list its common shares on a Canadian stock exchange. Further information regarding the listing will be disclosed in due course.
About Teuton
Teuton owns interests in more than thirty properties in the prolific "Golden Triangle" area of northwest British Columbia and was one of the first companies to adopt what has since become known as the "prospect generator" model. This model minimizes share equity dilution while at the same time maximizing opportunity. Earnings provided from option payments received, both in cash and in shares of the optionee companies has provided Teuton with substantial income.
On Behalf of the Board of Directors
"Dino Cremonese"
Dino Cremonese, P. Eng.
President and Chief Executive Officer
For further information, please visit the Company's website at www.teuton.com or contact:
Barry Holmes, Director Corporate Development and Communications
Tel. 778-430-5680
Email: bholmesmba@gmail.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain "forward-looking statements", which are statements about the future based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements by their nature involve risks and uncertainties, and there can be no assurance that such statements will prove to be accurate or true. Investors should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to update forward-looking statements except as required by law.
Copyright (c) 2025 TheNewswire - All rights reserved.
