Temas Resources Announces Closing of $1 Million Flow-Through Financing at $1.00 per Share
Temas Resources Announces Closing of $1 Million Flow-Through Financing
at $1.00 per Share
Laurentian Bank Securities Inc. acts as advisor to Temas Resources
VANCOUVER, British Columbia, [December 29, 2020] ― Temas Resources Corp. (the
“Company” or “Temas Resources”, CSE: TMAS, OTCQB: TMASF), a publicly traded
company focused on the advancement of mineral independence within stable,
mining-friendly jurisdictions, announced today it has closed a privat e placement of
1,000,000 flow-through common shares (the “Shares”) at a price of $1.00 per Share
for gross proceeds of $1 million.
“We’re very excited by the continued support shown by Laurentian Bank Securities
Inc. assisting with the closing of yet another round of financing,” said Michael Dehn,
CEO. “This $1 million financing is further recognition of Temas Resources’ ability to
execute on the vision and strategy we’ve put forth.”
The Private Placement is for an aggregate gross amount of CAD$1 million priced at
$1.00 per Share. The Company intends to utilize the proceeds for mining exploration
purposes in the province of Québec within 24 months.
“The consistent support we’re seeing from financial institutions such as Laurentian
Bank Securities continues to allow Temas Resources to accelerate its rate of
development beyond investor expectations,” Michael Dehn continued. "We appreciate
the vote of confidence shown in the Private Placement market valuation of $1.00 per
share, corroborating the direction we a re taking Temas Resources’ leadership,
mission, and ongoing operations.”
Temas Resources has paid Laurentian Bank Securities Inc. (“Laurentian Bank
Securities”) a cash finder’s fee in an amount equal to 7% of the gross proceeds of
the Private Placement. In addition, Temas Resources has issued non -transferable
share purchase warrants priced at $1.00 equal to 7% of the aggregate number of
Shares purchased to Laurentian Bank Securities.
About Laurentian Bank Securities Inc.
Laurentian Bank Securities is an int egrated full-service investment dealer, focusing
on six lines of business. The well-respected Institutional fixed income division has a
strong presence in Government and Corporate underwritings, as well as in secondary
markets. In addition, the Institution al equity division focuses on serving clients
through research, trading and investment banking in the small capitalization sector.
The fast -growing Retail division and Discount Brokerage division currently serve
clients through 13 offices in Québec. Furthe rmore, as a carrying broker, Laurentian
Bank Securities provides complete back office support to a wide range of customers.
Laurentian Bank Securities also offers the Immigrant Investors program. In the
institutional market as in the retail market, Laurentian Bank Securities places above
all, its expertise, experience, and sense of innovation to ensure its position and bring
added-value to all of its activities.
About Temas Resources
Temas Resources Corp. is responding to the growing global demand for iron ore and
two strategically important minerals — titanium and vanadium — deemed by the U.S.
Department of the Interior as critical to U.S. national security and the economy.
Temas Resources properties are located in the stable, mining-friendly jurisdiction of
Quebec (Canada) bordering Vermont, Maine, and New York State (U.S.) in an area
known as the Grenville Geological Province. The Grenville Geological Province is home
to Lac Tio, the largest solid ilmenite deposit in the world. As a mineral exploration
company focused on the acquisition, exploration and development of iron, titanium,
and vanadium properties, Temas Resources has focused its efforts on advancing two
major projects in the Grenville Geological Province area. The Company’s first project,
the DAB Property, consists of an option for 100% interest on 128 contiguous mineral
claims which covers 6,813 hectares (68.14 km²) within the Grenville Geological
Province. At the Company’s flagship La Blache Property, Temas has 100% ownership
of 48 semi-contiguous mineral claims which cover 2,653 hectares (26.53 km²) within
the Grenville Geological Province. All public filings for the Company can be found on
the SEDAR website www.sedar.com. For more information about the Company,
please visit www.temasresources.com.
On behalf of the Board of Directors of Temas Resources Corp.,
“Kyler Hardy”
Director
Contact: Nick Spencer, Investor Relations
Phone: +1 (604) 332-0902
Email: [email protected]
Forward Looking Statements
This news release includes certain “Forward‐ Looking Statements” within the meaning of the
United States Private Securities Litigation Reform Act of 1995 and “forward‐ looking
information” under applicable Canadian securities laws. When used in this news release, the
words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”,
“would”, “could”, “schedule” and similar words or expressions, identify forward ‐ looking
statements or information.
Forward‐ looking statements and forward‐ looking information relating to any future mineral
production, liquidity, enhanced value and capital markets profile of Temas Resources, future
growth potential for Temas Resources and its business, and future exploration plans are based
on management’s reasonable assumptions, estimates, expectatio ns, analyses and opinions,
which are based on management’s experience and perception of trends, current conditions
and expected developments, and other factors that management believes are relevant and
reasonable in the circumstances, but which may prove t o be incorrect. Assumptions have
been made regarding, among other things, the price of iron, titanium, vanadium and other
metals; no escalation in the severity of the COVID -19 pandemic; costs of exploration and
development; the estimated costs of development of exploration projects; Temas Resources’
ability to operate in a safe and effective manner and its ability to obtain financing on
reasonable terms.
These statements reflect Temas Resources’ respective current views with respect to future
events and are necessarily based upon a number of other assumptions and estimates that,
while considered reasonable by management, are inherently subject to significant business,
economic, competitive, political and social uncertainties and contingencies. Many factors, both
known and unknown, could cause actual results, performance or achievements to be
materially different from the results, performance or achievements that are or may be
expressed or implied by such forward‐ looking statements or forward-looking information and
Temas Resources has made assumptions and estimates based on or related to many of these
factors. Such factors include, without limitation: the Company’s dependence on one mineral
project; precious metals price volatility; risks associated with the c onduct of the Company’s
mining activities in Quebec; regulatory, consent or permitting delays; risks relating to reliance
on the Company’s management team and outside contractors; risks regarding mineral
resources and reserves; the Company’s inability to o btain insurance to cover all risks, on a
commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to
generate sufficient cash flow from operations; risks relating to project financing and equity
issuances; risks and unkno wns inherent in all mining projects, including the inaccuracy of
reserves and resources, metallurgical recoveries and capital and operating costs of such
projects; contests over title to properties, particularly title to undeveloped properties; laws
and regulations governing the environment, health and safety; the ability of the communities
in which the Company operates to manage and cope with the implications of COVID -19; the
economic and financial implications of COVID -19 to the Company; operating or tech nical
difficulties in connection with mining or development activities; employee relations, labour
unrest or unavailability; the Company’s interactions with surrounding communities and
artisanal miners; the Company’s ability to successfully integrate acqui red assets; the
speculative nature of exploration and development, including the risks of diminishing
quantities or grades of reserves; stock market volatility; conflicts of interest among certain
directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and
the factors identified under the caption “Risk Factors” in Temas Resources’ management
discussion and analysis. Readers are cautioned against attributing undue certainty to
forward‐ looking statements or forward-looking information. Although Temas Resources has
attempted to identify important factors that could cause actual results to differ materially,
there may be other factors that cause results not to be anticipated, estimated or intended.
Temas Resources does not int end, and does not assume any obligation, to update these
forward‐ looking statements or forward-looking information to reflect changes in assumptions
or changes in circumstances or any other events affecting such statements or information,
other than as required by applicable law.