Teako Announces Private Placement and Shares for Debt Transaction

Executive Summary

• Teako Minerals Corp. announced a non‑brokered private placement of up to 16,666,666 common shares at $0.06 per share, targeting gross proceeds of up to C$1,000,000.
• The company will settle C$113,000 of indebtedness by issuing 1,883,333 settlement shares to creditors, including an insider, under a related‑party transaction exemption.
• Net proceeds are earmarked for exploration activities, general working capital, and potential third‑party revenue‑generating projects.

Key Details

• Offering Size: Up to 16,666,666 common shares at $0.06 per share → maximum gross proceeds of C$1,000,000.
• Debt Settlement: C$113,000 of fees owed to advisors, contractors and an insider will be settled by issuing 1,883,333 settlement shares (deemed price $0.06 per share).
• Closing Timeline: The company expects the offering and debt settlement to close promptly, subject to customary conditions and CSE approval.
• Hold Period: Issued common and settlement shares will be subject to a four‑month plus one‑day hold period.
• Finder’s Fees: The company may pay finder’s fees in cash, securities, or a combination thereof, consistent with CSE policies.
• Use of Proceeds: Funds will support anticipated exploration programs, general working capital, pursuit of additional project deals, and potential revenue‑generating third‑party work.
• Regulatory Notices: Shares are not registered under the U.S. Securities Act; sales to U.S. persons are prohibited absent exemption or registration.
• Related Party Transaction: Settlement shares issued to an insider qualify as a related‑party transaction; the company relies on MI 61‑101 exemptions because fair market value is ≤ 25 % of market capitalization and no shareholder approval is required.

Notable Quotes

(No direct quotes were provided in the release.)