Teako Minerals Closes First Tranche of Private Placement and Debt Settlement
Teako Minerals Corp. has completed the first tranche of its non-brokered private placement, raising approximately $463,770 by issuing 7,729,499 common shares at $0.06 each. The company also settled $113,000 of debt through the issuance of additional shares, with significant holdings now held by Element29 AS, Fruchtexpress Grabher GmbH & Co KG, and AVA SYSTEMS AS. Teako's Project Hub focuses on mineral exploration, including copper and rare earth elements, emphasizing community engagement and technical expertise.
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Teako Minerals Corp. announced the closing of the first tranche of its non-brokered private placement, issuing 7,729,499 common shares at $0.06 per share, raising approximately $463,770. The company also settled $113,000 of debt by issuing 1,883,333 shares.
Element29 AS received 650,000 shares for $39,000 in debt, increasing Sven Gollan's holdings to 4,540,000 shares (4.06% ownership). Fruchtexpress Grabher GmbH & Co KG and AVA SYSTEMS AS each acquired 2,705,000 shares.
Post-offering, Fruchtexpress and Sverre Holte hold 16,023,447 shares (14.34%) and 18,581,923 shares (16.62%), respectively. Teako's Project Hub includes the Løkken and Venna projects, focused on various minerals including copper and rare earth elements, leveraging local community engagement and technical expertise for exploration success.
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