Business
Teako Sells Exploration Rights Near Fens Deposit to Treschow-Fritzøe; Forming a Strategic Collaboration
Vancouver, British Columbia--(Newsfile Corp. - July 3, 2025) - Teako Minerals Corp. (CSE: TMIN) (the "Company" or "Teako") is pleased to announce that it has entered into a strategic collaboration through a definitive acquisition agreement dated July 3, 2025 (the "Agreement") with Fritzøe Skoger AS, a wholly owned subsidiary of Treschow-Fritzøe AS (or "Fritzøe"), whereby Teako has sold 100% of four (4) rare earth projects, comprising nine (9) exploration rights in Vestfold and ...
About this update from Teako Minerals Corp
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - July 3, 2025) - Teako Minerals Corp. (CSE: TMIN) (the "Company" or "Teako") is pleased to announce that it has entered into a strategic collaboration through a definitive acquisition agreement dated July 3, 2025 (the "Agreement") with Fritzøe Skoger AS, a wholly owned subsidiary of Treschow-Fritzøe AS (or "Fritzøe"), whereby Teako has sold 100% of four (4) rare earth projects, comprising nine (9) exploration rights in Vestfold and Telemark counties (see map here) (collectively, the "Properties") for a cash consideration of NOK 2,500,000 (approximately $340,000 CAD). Pursuant to the Agreement, Teako retains the right to 10% of all the sale proceeds from any direct or indirect disposition of all or any part of the Properties.","length":830,"tagName":"p"},{"type":"text","content":"Under the terms of the Agreement, Teako also becomes the preferred provider of exploration services for Fritzøe (the "Exploration Services") for a period of 36 months on the Properties and selected Fritzøe properties (the "Fritzøe Properties")(see map here). Provision of the Exploration Services is expected to, when requested by Fritzøe, provide Teako with a revenue stream, which will strategically enhance the funding available for the advancement of the Company's core projects.","length":507,"tagName":"p"},{"type":"text","content":"Sven Gollan, Chief Executive Officer, commented: "From day one, our project hub approach has been fundamental to our strategy, evaluating multiple Norwegian projects to identify and develop the most promising ones alongside strong partners. This collaboration with Fritzøe Skoger and Treschow-Fritzøe AS creates potential valuable cash flow, reduces our exposure to market fluctuations, and opens new pathways for economic discoveries without diverting focus from our core base metal projects. Partnering with such a well-established Norwegian company demonstrates the power of local cooperation built on mutual trust and shared values."","length":647,"tagName":"p"},{"type":"text","content":"Terje Kristoffersen, Chief Executive Officer, Fritzøe Skoger AS, commented: "Mapping of minerals deposits on Fritzøe Skoger's property has been carried out over many decades. We have a long-term strategy for r...