Teako Minerals arranges $1-million private placement

Executive Summary

• Teako Minerals Corp. announced a non-brokered private placement to raise up to $1 million through the issuance of common shares, alongside the settlement of $113,000 in existing indebtedness via share issuance.
• The transaction involves issuing 16,666,666 shares at $0.06 per share for the private placement and 1,883,333 shares for debt settlement, with net proceeds designated for exploration activities and general working capital.
• The debt settlement constitutes a related party transaction involving an insider, for which the company is relying on specific exemptions from Multilateral Instrument 61-101 valuation and approval requirements.

Key Details

• Private Placement Structure: Non-brokered issuance of up to 16,666,666 common shares.
• Offering Price: $0.06 per common share.
• Gross Proceeds: Up to $1,000,000.
• Debt Settlement: Settlement of $113,000 in indebtedness related to fees for services performed by advisers, independent contractors, and an insider through January 6, 2026.
• Settlement Shares: 1,883,333 common shares issued at a deemed price of $0.06 per share.
• Use of Proceeds: Anticipated exploration activities and general working capital to pursue corporate objectives including additional project deals and potential revenue-generating third-party work.
• Regulatory Conditions: Closing is subject to CSE approval and a four-month-and-one-day hold period on the shares.
• Finder’s Fees: The company may pay finders' fees in cash, securities, or a combination thereof, in accordance with Canadian Securities Exchange policies.
• Insider Participation: An insider is receiving settlement shares, triggering related party transaction status under Multilateral Instrument 61-101.
• MI 61-101 Exemptions: The company relies on exemptions from formal valuation requirements (sections 5.5(a) and (b)) and minority shareholder approval requirements (Section 5.7(1)(a)) because the fair market value of the insider transaction is not more than 25% of the company's market capitalization.

Notable Quotes

• No direct quotes from the CEO or President were included in the provided text.