Business
Teuton Resources and Luxor Metals Close Plan of Arrangement
(TheNewswire) May 16 , 2025 – TheNewswire - Victoria, British Columbia -...
About this update from Teuton Resources Corp.
[{"type":"text","content":"Teuton Resources and Luxor Metals Close Plan of Arrangement\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n May 16\n \n\n , 2025 –\n \n\n TheNewswire -\n \n\n Victoria, British\nColumbia -\n \n\n Teuton Resources\nCorp\n \n\n . (“Teuton” or the\n“Company”)(TSXV:TUO, Frankfurt:TFE, OTCQB:TEUTF) and Luxor Metals\nLtd. (“Luxor”) announce that the previously announced spin-out\ntransaction involving both parties, implemented by way of a plan of\narrangement (the “Arrangement”), has closed on May 16,\n2025.\n \n\n\n\n Pursuant to the Arrangement, Teuton has transferred to\nLuxor $1.9 million in cash and securities, and mineral claims covering\napproximately 20,481 hectares in northwestern British Columbia (the\n“Luxor Project”).  As consideration for the aforementioned\nassets, Luxor has issued 19,248,960 common shares (the\n“Consideration Shares”) to Teuton, who will in turn distribute\nsuch shares to Teuton shareholders on a pro rata basis. The\nConsideration Shares have an approximate value of $0.22 per share at\nclosing.\n \n\n\n\n Teuton shareholders of record as of February 14, 2025\n(the “Record Date”) will be entitled to receive one Luxor share\nfor every three Teuton shares they hold on the Record Date. No action\nis required by Teuton shareholders to receive the Luxor shares; direct\nregistration statements representing their Luxor shares will be sent\nto them in due course.\n \n\n\n\n Further details regarding the Arrangement can be found\nin Teuton’s management information circular dated March 7, 2025, and\nfiled on SEDAR+ (ww.sedarplus.ca). In addition, information about the\nLuxor Project is contained in\n \n\n NI 43-101 Technical Report on the Luxor Project\n \n\n prepared by Tony Barresi, P.Geo, which will be filed under\nLuxor’s profile on SEDAR+.\n \n\n\n\n Luxor intends to list its common shares on a Canadian\nstock exchange. Further information regarding the listing will be\ndisclosed in due course.\n \n\n\n\n About Teuton\n \n\n\n\n Teuton owns interests in more than thirty properties in\nthe prolific “Golden Triangle” area of northwest British Columbia\nand was one of the first companies to adopt what has since become\nknown as the “prospect generator” model.  This...