Vancouver, British Columbia--(Newsfile Corp. - October 9, 2025) - Teako Minerals Corp. (CSE: TMIN) (the "Company" or "Teako") is pleased to announce the closure of its non-brokered private placement offering (the "Offering") of common shares of the Company ("Common Shares"). Pursuant to the Offering, the Company issued 6,153,847 Common Shares at a price of $0.065 per Common Share for total gross proceeds of $400,000.06. The Offering was backed by participation from significant investors from Denmark alongside participation from an insider of the Company.
The Company's now largest shareholder, the Norwegian family office owned by Sverre Holte (the "Insider"), participated in the Offering through S.B.S. Capital Management AS and acquired an aggregate of 3,076,923 Common Shares. The Insiders' participation in the Offering constitutes a "related party transaction", as such term is defined in Multilateral Instrument 61-101 - Protection of Minority Securityholders in Special Transactions ("MI 61-101"). In completing the Offering, the Company has relied on exemptions from the formal valuation and minority shareholder approval requirements enumerated in sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as neither the fair market value of the Common Shares purchased, nor the consideration paid by the Insiders exceeds 25% of the Company's market capitalization.
The Company intends to use the net proceeds of the Offering for ongoing exploration activities as well as general working capital purposes to allow more time to pursue its corporate objective of additional project deals and potential revenue-generating third party work. The Company did not pay any finder's fees in cash or securities under the Offering.
All of the Common Shares issued under the Offering will be subject to a four-month and one-day statutory hold period. The Common Shares have not and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or any applicable state securities laws and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. persons," as such term is defined in Regulation S promulgated under the U.S. Securities Act, absent registration or an exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Common Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Teako Minerals Corp.:
Teako Minerals Corp. is a Vancouver-based mineral exploration company committed to acquiring, exploring, and developing mineral properties in Norway, focusing on critical metals such as copper, cobalt, zinc and molybdenum. By leveraging leading-edge exploration technologies and strategic partnerships, Teako aims to address the growing demand for essential minerals while generating value for shareholders and stakeholders alike.
Contact Information:
Sven Gollan - CEO
T: +1 (604)-871-4301
Email: sven.gollan@teakominerals.com
Forward-Looking Information:
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Teako. Forward-looking information is based on certain key expectations and assumptions made by the management of Teako. In some cases, you can identify forward-looking statements by the use of words such as "will," "may," "would," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "could" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Forward-looking statements in this press release include statements related to: i) the use of proceeds from the Offering, and ii) the Company's business plans, operations and other matters. Although Teako believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Teako can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include but are not limited to, risks associated with the mineral exploration industry in general (e.g., operational risks in development, exploration and production; the uncertainty of mineral resource estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), constraint in the availability of services, commodity price and exchange rate fluctuations, changes in legislation impacting the mining industry, adverse weather conditions and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures. These and other risks are set out in more detail in Teako's interim Management's Discussion and Analysis, July 31, 2025.
All dollar figures included herein are presented in Canadian dollars, unless otherwise noted. Neither the CSE nor its market regulator accepts responsibility for the adequacy or accuracy of this press release.
Not for dissemination in the United States or distribution through U.S. newswires
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/269788
SOURCE: Teako Minerals Corp.
