Business
Teuton Resources Expects Closing of Plan of Arrangement
(TheNewswire) May 14 , 2025 – TheNewswire - Victoria, British Columbia -...
About this update from Teuton Resources Corp.
[{"type":"text","content":"Teuton Resources Expects Closing of Plan of Arrangement\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n May 14\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 “Company”)\n(TSXV:TUO, Frankfurt:TFE, OTCQB:TEUTF) and Luxor Metals Ltd.\n(“Luxor”) expects to close on May 16, 2025, the spin-out\ntransaction involving both parties, implemented by way of a plan of\narrangement (the “Arrangement”)\n \n\n\n\n On closing, Teuton will be transferring to Luxor $1.9\nmillion in cash and securities, and mineral claims covering\napproximately 20,481 hectares in northwestern British Columbia (the\n“Luxor Project”).  In exchange, Luxor will be issuing 19,248,960\ncommon shares (the “Consideration Shares”) to Teuton, who will in\nturn distribute such shares to Teuton shareholders on a pro rata\nbasis.\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 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 model minimizes\nshare equity dilution while at the same time maximizing opportunity.\n Earnings provided from option payments received, both in cash and in\nshares of the optionee companies has provided Teuton with substantial\nincome.\n \n\n\n\n On Behalf of the Board of\nDirectors\n \n\n\n\n “Dino Cremonese”\n \n\n\n\n Dino Cremonese, P. Eng.\n \n\n\n\n President and Chief Executive Officer\n \n\n\n\n For further information, please visit the Company’s\nwebsite at www.teuton.com or contact:\n \n\n\n\n Barry Holmes, Director Corporate Development and\nCommunications\n \n\n\n\n Tel. 778-430-5680\n \n\n\n\n Email:\n \n\n\n\n [email protected]\n \n\n\n\n\n\n Neither the TSX Venture...