Teuton Resources closes $1.6-million private placement

Executive Summary

• Teuton Resources Corp. completed a non‑brokered private placement of 2 million units at $0.80 per unit, raising approximately $1.6 million.
• The financing was led by insider Eric Sprott (660,000 units) and President Dino Cremonese (100,000 units); the remaining units were purchased by other investors.
• Proceeds will be used to explore Teuton’s extensive property portfolio in British Columbia’s Golden Triangle and for general working capital.

Key Details

• Units sold: 2,000,000 units (each unit = 1 share + ½ warrant).
• Price per unit: $0.80 → gross proceeds ≈ $1,600,000.
• Warrant terms: Each unit includes a half‑warrant to purchase an additional share at $1.20; the full warrant is exercisable for two years from closing.
• Hold period: All securities subject to a statutory four‑month hold period.
• TSX Venture Exchange approval: Conditionally approved on July 25, 2025, pending satisfactory closing.
• Insider participation:
• Eric Sprott (through 2176423 Ontario Ltd.) purchased 660,000 units ($528,000).
• Dino Cremonese, P.Eng., President, purchased 100,000 units.
• Related‑party transaction: Treated as a related‑party transaction under MI 61‑101; exemptions applied because purchase price does not exceed 25 % of market capitalization. No material change report filed (deemed reasonable to expedite proceeds).
• Use of proceeds: Exploration of multiple Golden Triangle properties and general working capital.
• No finders’ fees or commissions were paid in connection with the placement.

Notable Quotes

(None provided in the release.)