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VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 5, 2014) - Teuton Resources Corp. ("Teuton") (TSX VENTURE:TUO)(FRANKFURT:TFE)(OTCBB:TEUTF) after consultations with its shareholders will be cancelling the private placement announced on July 29, 2014. The combined flow-through and non flow-through share offering was considered too complex.
A new private placement will be entered into comprising an offering of 9,000,000 units (each a "Unit) at a price of $0.05 per Unit, for gross proceeds of up to $450,000 (the "Offering"). Each Unit will consist of one common share of Teuton and one common share-purchase warrant; each warrant will entitle the holder to purchase one additional common share of Teuton at a price of $0.07 for a period of twelve (12) months after the closing of the Offering, and thereafter at a price of $0.10 until twenty-four (24) months after the closing of the Offering. |
