May 14, 2025 – TheNewswire - Victoria, British Columbia - Teuton Resources Corp. (“Teuton” or the “Company”) (TSXV:TUO, Frankfurt:TFE, OTCQB:TEUTF) and Luxor Metals Ltd. (“Luxor”) expects to close on May 16, 2025, the spin-out transaction involving both parties, implemented by way of a plan of arrangement (the “Arrangement”)
On closing, Teuton will be transferring to Luxor $1.9 million in cash and securities, and mineral claims covering approximately 20,481 hectares in northwestern British Columbia (the “Luxor Project”). In exchange, Luxor will be issuing 19,248,960 common shares (the “Consideration Shares”) to Teuton, who will in turn distribute such shares to Teuton shareholders on a pro rata basis.
Teuton shareholders of record as of February 14, 2025 (the “Record Date”) will be entitled to receive one Luxor share for every three Teuton shares they hold on the Record Date. No action is required by Teuton shareholders to receive the Luxor shares; direct registration statements representing their Luxor shares will be sent to them in due course.
About Teuton
Teuton owns interests in more than thirty properties in the prolific “Golden Triangle” area of northwest British Columbia and was one of the first companies to adopt what has since become known as the “prospect generator” model. This model minimizes share equity dilution while at the same time maximizing opportunity. Earnings provided from option payments received, both in cash and in shares of the optionee companies has provided Teuton with substantial income.
On Behalf of the Board of Directors
“Dino Cremonese”
Dino Cremonese, P. Eng.
President and Chief Executive Officer
For further information, please visit the Company’s website at www.teuton.com or contact:
Barry Holmes, Director Corporate Development and Communications
Tel. 778-430-5680
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain "forward-looking statements", which are statements about the future based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. Forward–looking statements by their nature involve risks and uncertainties, and there can be no assurance that such statements will prove to be accurate or true. Investors should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to update forward-looking statements except as required by law.
