Teako Closes Non-Brokered Private Placement Backed by Insider and Other Significant Investors

Executive Summary

• Teako Minerals Corp. closed a non‑brokered private placement of 6,153,847 common shares at $0.065 per share, generating gross proceeds of $400,000.06 CAD.
• The offering was led by the company’s largest shareholder, a Norwegian family office (S.B.S. Capital Management AS), which purchased 3,076,923 shares – a related‑party transaction that did not require minority shareholder approval under MI 61‑101.
• Net proceeds will be used to fund ongoing exploration activities, general working capital, and potential additional project deals or third‑party revenue‑generating work.

Key Details

• Shares Issued: 6,153,847 common shares
• Price per Share: $0.065 CAD
• Gross Proceeds: $400,000.06 CAD
• Largest Investor: Norwegian family office (S.B.S. Capital Management AS) – 3,076,923 shares
• Related‑Party Transaction: Exempt from formal valuation and minority approval because the purchase price and consideration are each < 25 % of market capitalization per MI 61‑101 sections 5.5(a) & 5.7(1)(a).
• Use of Proceeds: Ongoing exploration, general working capital, pursuit of additional project deals, and potential third‑party work that could generate revenue.
• Finder’s Fees: None paid in cash or securities.
• Statutory Hold Period: All issued shares subject to a four‑month + one‑day hold period.
• U.S. Securities Restrictions: Shares not registered under the U.S. Securities Act; cannot be offered/sold to U.S. persons without registration or an exemption.

Notable Quotes

(No direct quotes were provided in the release.)