Teuton Resources completes Luxor Metals spinout

Teuton Resources Corp. [TSXV: TUO; OTCQB: TEUTF; FSE: TFE] and Luxor Metals Ltd. reported that the previously announced spinout transaction, implemented by way of a plan of arrangement, closed on May 16, 2025.

Under the arrangement, Teuton has transferred to Luxor $1.9 million in cash and securities and mineral claims covering approximately 20,481 hectares in northwestern British Columbia (the Luxor project). As consideration for the aforementioned assets, Luxor has issued 19,248,960 common shares to Teuton, which will in turn distribute such shares to Teuton shareholders on a pro rata basis. The consideration shares have an approximate value of 22 cents per share at closing.

Teuton shareholders of record as of February 14, 2025, will be entitled to receive one Luxor share for every three Teuton shares they hold on the record date. No action is required by Teuton shareholders to receive the Luxor shares; direct registration statements representing their Luxor shares will be sent to them in due course. Luxor intends to list its common shares on a Canadian stock exchange.

Teuton owns interests in more than 30 properties in the Golden Triangle area of northwestern British Columbia and was one of the first companies to adopt what has since become known as the prospect generator model. Earnings provided from option payments received, both in cash and in shares of the optionee companies, has provided Teuton with substantial income.