Teuton Named in $135 Million Lawsuit
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/13/12 -- Teuton Resources Corp. ("Teuton") (TSX VENTURE: TUO)(FRANKFURT: TFE)(OTCBB: TEUTF) announces that it has become aware that it is named as a Defendant in the Amended Amended Statement of Claim filed November 27, 2012 in Court of Queen's Bench of Alberta in Court File Number 1201-07918, Calgary Judicial Centre ("the lawsuit") in which American Creek Resources Ltd. ("AMK"), Allan G. Burton, Darren R. Blaney, Robert N. Edwards and Kelvin J. Burton are Plaintiffs and Teuton, Dino Cremonese, Amanda Mullin, Gary Assaly, Deborah Shilling and John Does 1-64 are Defendants.
The lawsuit alleges among other matters the posting of defamatory comments by the Defendants on the "Bullboards" maintained by Stockhouse Publishing Ltd. The lawsuit also alleges that Teuton and the named Defendants "conspired and acted in concert with one another, and others to defame the Plaintiffs and intentionally interfere with their economic relations".
Damages of more than $135,000,000 are sought against Teuton as described below.
As against Teuton AMK seeks general damages of $50,000,000; punitive damages of $5,000,000; unspecified special damages; and costs.
As against Teuton, on a joint and several basis with the named Defendants, each of the four personal Plaintiffs seeks general damages of $10,000,000; aggravated damages of $5,000,000; punitive damages of $5,000,000; unspecified special damages and costs.
Teuton is of the view that the lawsuit is without merit and will vigorously defend itself.
Respectfully:
Dino Cremonese, P.Eng., President, Teuton Resources Corp.
If you would like to be added to Teuton's news distribution list, please send your email address to gary.teuton@shawlink.ca.
This news release includes certain forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. Teuton Resources Corp. does have an ongoing obligation to disclose material information, as it becomes available.
The TSX Venture Exchange has neither approved nor disapproved the information contained herein.
Contacts:
Teuton Resources Corp.
Dino Cremonese, P.Eng.
President
(604) 682-3680 or Toll Free: 1-800-879-2333
682-3992 (FAX)
www.teuton.com
