Oversubscribed offering finances exploration in the Stewart region
By Devika Patel
Knoxville, Tenn., Aug. 3 - Teuton Resources Corp. said it settled a C$1.33 million oversubscribed private placement of units. The deal priced for C$576,000 on June 12 and was increased to C$960,000 on June 28.
The company sold 4,170,750 units of one common share and one warrant at C$0.32 per unit.
The warrants are each exercisable at C$0.35 for two years. The strike price is a 34.62% premium to the June 11 closing share price of C$0.26.
Proceeds will be used for exploration in the Stewart region, litigation and 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$1,334,640
|
| Units: | 4,170,750
|
| Price: | C$0.32
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.35
|
| Pricing date: | June 12
|
| Upsized: | June 28
|
| Settlement date: | Aug. 3
|
| Stock symbol: | TSX Venture: TUO
|
| Stock price: | C$0.26 at close June 11
|
| Market capitalization: | C$15.06 million
|
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