VICTORIA, British Columbia, Feb. 23, 2015 (GLOBE NEWSWIRE) -- Teuton Resources Corp. ("Teuton") (TSX-V:TUO) (Frankfurt:TFE) (OTCBB:TEUTF) announces that effective February 23, 2015 at market open, the Company will consolidate its common shares on the basis of one (1) new post-consolidation common share for every five (5) pre-consolidation common shares. The Company's common shares will begin trading on a post consolidated basis on the TSX Venture Exchange on February 23, 2015.
As a result of the consolidation, the Company's currently outstanding 70,044,411 common shares will be reduced to approximately 14,008,882 common shares. No fractional shares will be issued. Any fractions of a share will be rounded to the nearest whole number of common shares. The Company's name and trading symbol will remain unchanged. The consolidation was approved by the directors of the Company on February 6, 2015 and accepted by the TSX Venture Exchange on February 20, 2015.
The Company's new CUSIP number is 88162H200 and the new ISIN number is CA88162H200.
Registered shareholders will be required to exchange their share certificates representing pre- consolidation common shares for new share certificates representing post-consolidation common shares. Registered shareholders will be sent a transmittal letter, as soon as practicable after the effective date of the consolidation. The letter of transmittal will contain instructions on how certificate(s) representing pre-consolidation shares may be surrendered to the Company's transfer agent, Computershare Trust Company of Canada. The transfer agent will forward to each registered shareholder who has provided the required documents a new share certificate representing the number of post-consolidation common shares to which the shareholder is entitled. Until surrendered, each share certificate representing pre-consolidation common shares of the Company will be deemed for all purposes to represent the number of whole post-consolidation common shares to which the holder is entitled as a result of the consolidation. Copies of the letter of transmittal may be obtained from the Company at 2130 Crescent Road, Victoria, BC, V8S 2H3 by mail, or by phoning 1-778-430-5680 or 1-604-682-3680.
It is the opinion of the Board of Directors of the Company that the consolidation will facilitate any new equity investment in the Company.
Respectfully:
"Dino Cremonese, P.Eng."
President,
Teuton Resources Corp.
If you would like to be added to Teuton's news distribution list, please send your email address to gary@teuton.com.
This news release includes certain forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. Teuton Resources Corp. does have an ongoing obligation to disclose material information, as it becomes available.
The TSX Venture Exchange has neither approved nor disapproved the information contained herein.
TEUTON RESOURCES CORP.
2130 Crescent Road
Victoria, BC V8S 2H3
Phone: (604) 682-3680 Fax: 682-3992
Toll Free: 1-800-879-2333
Website: www.teuton.com
HUG#1896395