TEUTON RESOURCES CORP.: PRIVATE PLACEMENT OVERSUBSCRIBED, INCREASED TO $1,334,640 DUE TO DEMAND
Teuton Resources Corp.’s private placement announced June 12, 2012, and amended June 28, 2012, has been completed, subject to regulatory approval. Due to strong demand it was oversubscribed again.
The placement, which was originally increased from $576,000 to $960,000, has now been completed at $1,334,640. It consists of 4,170,750 units at 32 cents per unit. Each unit will consist of one common share of the company plus one warrant entitling the subscriber to purchase a common share at 35 cents for a two-year period.
Funds will be used to further exploration of its many properties in the Stewart region, to pay for litigation and for general corporate purposes.