Business
Update Re Option Agreements - Golden Triangle Properties
(via TheNewswire) Vancouver, Canada - TheNewswire - August 6, 2019 - Teuton Resource...
About this update from Teuton Resources Corp.
[{"type":"text","content":"Update Re Option Agreements - Golden Triangle Properties(via TheNewswire)\n\n \nVancouver, Canada - TheNewswire - August 6, 2019 - Teuton Resources Corp. (\"Teuton\" or \"the Company\") (TSXV:TUO) (OCT:TEUTF) (Frankfurt:TUC) updates the status of several of its option agreements on its properties in the Golden Triangle, northwestern British Columbia:\n\n\n \nTudor Gold Option Agreements\n\n\n \nTudor Gold Corp. (\"Tudor\") and the Company have agreed to further amend the terms of four option purchase agreements on the Orion, Fairweather, Delta and High North properties, situated south of the KSM property of Seabridge Gold and west of the Brucejack-Snowfield property of Pretium Resources. \n\n\n \nThe Company and Teuton have entered into amending agreements (collectively, the \"Amending Agreements\") to revise terms covering cash and share payments that were due as well as, in two of the property option agreements, future payments. Share and cash payment schedules are amended as follows, subject to the approval of the TSX Venture Exchange (\"TSX-V\").\n\n\n \n\n\n1. Orion Property: 175,000 shares to be issued within five business days of Tudor receiving TSX-V approval of the Amending Agreement; all other provisions of the Orion Agreement shall remain unchanged \n\n\n\n2. Fairweather Property: 200,000 shares to be issued within five business days of Tudor receiving TSX-V approval of the Amending Agreement; all other provisions of the Fairweather Agreement shall remain unchanged. \n\n\n\n3. Delta Property: 200,000 shares to be issued within five business days of Tudor receiving TSX-V approval of the Amending Agreement; $100,000 to be paid on or before March 1, 2020; $200,000 to be paid on or before March 1, 2021; and $300,000 to be paid on or before March 1, 2022. \n\n\n\n4. High North Property: 200,000 shares to be issued within five business days of Tudor receiving TSX-V approval of the Amending Agreement; $100,000 to be paid on or before March 1, 2020; $200,000 to be paid on or before March 1, 2021; and $300,000 to be paid on or before March 1, 2022. \n\n\n\n\n \nUnder the terms of the Amending Agreements, Tudor, in order to exercise the four property option agreements, must pay an additional aggregate sum of $1,890,000 (the final payment is in 2022) and issue an additional aggregate of 1,375,000 common shares. \n\n\n \nDino Cre...