Sverre Holte Acquires Shares of Teako Minerals Corp. Through S.B.S. Capital Management AS
March 17, 2025 8:00 AM EDT | Source: Sverre Holte
Norway, Trollåsen--(Newsfile Corp. - March 17, 2025) - Sverre Holte (the "Acquiror") is pleased to announce that in connection with the closing of Teako Minerals Corp.'s (CSE: TMIN) (the "Company") private placement (the "Offering") as announced today, it has acquired 5,000,000 common shares of the Company (the "Common Shares"), through S.B.S. Capital Management AS at a price of $0.065 per Common Share for a total subscription price of $350,000 (the "Acquisition").
Immediately prior to the closing of the Offering and the Acquisition, the Acquiror owned and/or had control over an aggregate of 6,525,000 Common Shares, through SBS Holding AS and its subsidiaries S.B.S. Capital Management AS and StonkeyKongs & Comrades AS, representing approximately 8.0% of the issued and outstanding Common Shares. These Common Shares were acquired through open market buying and participation in previous offerings of the Company.
Following completion of the Acquisition, the Acquiror has beneficial ownership and control and direction over an aggregate of 11,525,000 Common Shares, representing approximately 12.1% of the issued and outstanding Common Shares of the Issuer.
The Acquiror acquired the Common Shares for investment purposes. The Acquiror may, depending on market and other conditions, increase or decrease its ownership of the Issuer's securities, whether in the open market, by privately negotiated agreements or otherwise, subject to a number of factors, including general market conditions and other available investment and business opportunities.
National Instrument 62-103 also requires a report to be filed with regulatory authorities in each of the jurisdictions containing additional information with respect to the foregoing matters (the "Early Warning Report"). The Early Warning Report respecting the Acquisition will be available for viewing through SEDAR+.
Sivert Holte Wallin, Chief Executive Officer and Board Member of the Acquiror's companies, commented: "Over the past three years, we have closely followed Teako and its activities. Based on our observations and insights, we have participated in several investment rounds. The journey from the initial idea of building a mineral exploration company from scratch to becoming the largest in Norway with an extensive land package has been remarkable.
Norway has incredible onshore resources with impressive potential, yet the country's primary focus has remained offshore ever since oil resources were discovered off the Norwegian coast in the 1970s. What began as an idea and a dream three years ago is now rapidly becoming a reality. We are thrilled to be part of the Teako story and to play a role in its development, and we firmly believe that the best is yet to come."
About The Acquiror
Based in Norway, the Holte Family Office invests in various sectors in Scandinavia and globally, with a long-term approach and a focus on natural resources.
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