Teuton Receives Shareholder and Court Approval of Arrangement
Victoria, April 14, 2025 - Teuton Resources Corp. ("Teuton" or the "Company") (TSXV:TUO, Frankfurt:TFE, OTCQB:TEUTF) is pleased to announce that it has received both shareholder and court approval for its proposed plan of arrangement (the "Arrangement"), under which Teuton will spin out some of its mineral properties along with $1.9 million in cash and securities to its wholly-owned subsidiary, Luxor Metals Ltd. ("Luxor Metals"). More specific information about the Arrangement can be found in the Company's management information circular dated March 7, 2025 (the "Circular"), filed under the Company's profile on www.sedar.com. At the Company's annual general and special meeting (the "Meeting") on April 4, 2025, of the 23,231,552 votes cast at the Meeting, 99.39% (or 23,089,004 votes) were voted in favour of the Arrangement. Shareholders approved all other matters brought before the Meeting, including the adoption of a new omnibus equity incentive plan for Teuton and a stock option plan for Luxor Metals. In addition, Dino Cremonese, Robert Smiley, Jeff Kyba and Jeremy Zall were all re-elected as directors of Teuton for the ensuing year.
On April 9, 2025, the Supreme Court of British Columbia granted a final order approving the Arrangement. Subject to the satisfaction of all closing conditions (details of which are described in the Circular), the Company expects to complete the Arrangement by the end of April 2025. Computershare Trust Company of Canada is the transfer agent for Teuton.
D. Cremonese, P. Eng., the President and CEO of Teuton Resources, commented as follows: "Luxor Metals now owns a large property package covering 21,558 hectares (83.2 square miles) located between Goldstorm Metals claim holdings and the formerly producing Granduc copper mine. Past exploration on the Luxor Metals holdings has shown potential for porphyry copper-gold deposits (as evidenced by 2011-2012 drilling at the Tennyson property) as well as volcanogenic massive sulfide deposits as suggested by recent finds (2023) at the Big Gold property. The Four J's property was cited as exhibiting some of the characteristics of Eskay Creek type deposits in a paper by British Columbia government geologists, Massey, Alldrick and Lefebure, in a paper entitled Potential for Subaqueous Hot Spring (Eskay Çreek) Deposits in British Columbia. Moreover, in a large airborne ZTEM survey flown by Geotech over part of the Luxor Metals claims in 2018, thirteen ZTEM anomalies were identified, some of considerable intensity and size (up to 3+km long), none of which has yet been drilled. The Luxor Metals properties lie about ten kilometers south of the KSM property of Seabridge Gold and Brucejack property of Newmont Mining, along geological trend. Potential for finding viable deposits in this region must be considered excellent."
About Teuton
Teuton owns interests in more than twenty-three 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.
Teuton's most significant asset is in the Treaty Creek property (for which it was the original claim staker), host to the large Goldstorm deposit. It presently holds a 20% carried interest in the Treaty Creek Project (Tudor Gold is responsible for paying all exploration costs up until such time as a production decision is made and owns a 60% interest; American Creek Resources owns the remaining 20% interest, also carried). Additionally, Teuton owns a 0.98% Net Smelter Royalty in the Goldstorm deposit area as well as in the northern portion of the Perfectstorm zone; within the southern portion of the Perfectstorm zone, Teuton owns a 0.49% NSR with an option to increase that to 1.49% by paying $1 million to the current owner. It also owns numerous additional royalty interests within the Sulphurets Hydrothermal system on formerly 100%-owned properties such as the King Tut, Tuck, High North, Orion, Delta and Fairweather properties (King Tut and Tuck now owned by Newmont Mining; High North, Orion, Delta and Fairweather properties now owned by Goldstorm Metals).
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: bholmesmba@gmail.com
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.
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