Teako Announces Private Placement and Shares for Debt Transaction

Core Viewpoint - Teako Minerals Corp. is conducting a non-brokered private placement to issue up to 16,666,666 common shares at a price of $0.06 per share, aiming for gross proceeds of up to $1,000,000, alongside a debt settlement of $113,000 through the issuance of 1,883,333 shares [1][2]. Group 1: Offering and Debt Settlement - The Offering will involve the issuance of common shares at a price of $0.06, with the total gross proceeds expected to reach $1,000,000 [1]. - The Debt Settlement will settle $113,000 of indebtedness by issuing 1,883,333 common shares at the same price of $0.06 per share [1][2]. - The Company plans to close the Offering and Debt Settlement promptly, subject to customary conditions including approval from the Canadian Securities Exchange (CSE) [3]. Group 2: Use of Proceeds - The net proceeds from the Offering are intended for exploration activities and general working capital, supporting the Company's goal of pursuing additional project deals and potential revenue-generating work [4]. Group 3: Insider Participation and Related Transactions - An insider of the Company is expected to receive Settlement Shares as part of the Debt Settlement, which may be classified as a "related party transaction" under Multilateral Instrument 61-101 [7]. - The Company will rely on exemptions from formal valuation and minority shareholder approval requirements due to the fair market value of the transaction being less than 25% of its market capitalization [7]. Group 4: Company Overview - Teako Minerals Corp. is based in Vancouver and focuses on acquiring, exploring, and developing mineral properties in Norway, particularly targeting critical metals such as copper, cobalt, zinc, and molybdenum [8]. - The Company's Project Hub includes significant projects like Løkken and Venna, which are prospective for various minerals including copper, cobalt, and rare-earth elements [9][10].