Eric Sprott Announces Holdings in Teuton Resources Corp.

Toronto, Ontario--(Newsfile Corp. - June 1, 2020) - Eric Sprott announces that on May 29, 2020, 2176423 Ontario Ltd., a corporation which is beneficially owned by him, purchased 201,500 common shares of Teuton Resources Corp. over the TSX Venture Exchange (representing approximately 0.5% of the outstanding shares on non-diluted basis) at a price of approximately $0.64 per share for aggregate consideration of approximately $129,101.

Mr. Sprott now owns and controls 4,611,000 shares and 2,500,000 share purchase warrants (representing approximately 10.6% on a non-diluted basis and 15.5% on a partially diluted basis assuming exercise of such warrants). Prior to this acquisition, Mr. Sprott beneficially owned and controlled 4,409,500 shares and 2,500,000 warrants (representing approximately 10.2% on a non-diluted basis and approximately 15.0% on a partially diluted basis).

The shares were acquired by Mr. Sprott, through 2176423 Ontario for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities of Teuton Resources including on the open market or through private acquisitions or sell securities of Teuton Resources including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

Teuton Resources is located at 2130 Crescent Road, Victoria, British Columbia, V8S 2H3. A copy of 2176423 Ontario's early warning report will appear on Teuton Resource's profile on SEDAR at www.sedarcom may also be obtained by calling (416) 362-7172 (200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/56965