Teako Announces First Tranche Closing of Private Placement and Shares for Debt Transaction

Executive Summary

• Teako Minerals Corp. closed the first tranche of its non‑brokered private placement, issuing 7,729,499 common shares at $0.06 each for gross proceeds of approximately $463,770 CAD.
• The company settled $113,000 of indebtedness by issuing 1,883,333 settlement shares to insiders, notably Element29 AS, Fruchtexpress Grabher GmbH & Co KG and AVA SYSTEMS AS.
• Net proceeds are earmarked for exploration activities, general working capital, potential project deals, and third‑party revenue‑generating work.

Key Details

• Offering Size: 7,729,499 common shares @ $0.06 per share → $463,770 CAD gross proceeds.
• Debt Settlement: 1,883,333 settlement shares @ deemed $0.06 per share → $113,000 CAD debt extinguished.
• Insider Participation (Related‑Party Transaction):
• Element29 AS received 650,000 settlement shares for $39,000 of debt.
• Post‑transaction ownership: Sven Gollan ~4.06% (4,540,000 shares).
• Fruchtexpress and AVA each acquired 2,705,000 common shares; resulting holdings of 16,023,447 (14.34%) and 18,581,923 (16.62%) shares respectively.
• Hold Period: All issued common and settlement shares are subject to a four‑month and one‑day hold period.
• Use of Proceeds: Planned for anticipated exploration programs, general working capital, pursuit of additional project deals, and potential third‑party contract work.
• Regulatory Exemptions: Transaction relied on MI 61‑101 exemptions (valuation <25% market cap; no minority shareholder approval required). No finder’s fees were paid.
• Securities Law Notice: Shares are not registered under the U.S. Securities Act and may not be offered or sold to U.S. persons absent an exemption.

Notable Quotes

(No direct quotes included in the release.)