Upsized offering finances properties in northwestern British Columbia
By Devika Patel
Knoxville, Tenn., Aug. 17 - Teuton Resources Corp. said it completed a C$1.55 million private placement of units. The deal priced for C$1.1 million on June 21 and was increased to C$1.2 million on July 13 and to C$1.55 million on July 18. Originally, the deal was to have included flow-through common stock, but on July 13, the company decided to sell only units.
The company sold 3.09 million units of one common share and one warrant at C$0.50 per unit.
The warrants are each exercisable at C$0.55 for one year or at C$0.70 for two years. The strike prices are 34.15% and 70.73% premiums to the June 20 closing share price of C$0.41.
Proceeds will be used on the company's properties in northwestern British Columbia and for general corporate purposes.
Teuton is a gold and copper explorer based in Vancouver, B.C.
| Issuer: | Teuton Resources Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1,545,000
|
| Units: | 3.09 million
|
| Price: | C$0.50
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year, two years
|
| Warrant strike prices: | C$0.55 (for one year), C$0.70 (for two years)
|
| Pricing date: | June 21
|
| Amended: | July 13, July 18
|
| Settlement date: | Aug. 17
|
| Stock symbol: | TSX Venture: TUO
|
| Stock price: | C$0.45 at close June 21
|
| Market capitalization: | C$27.4 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
