Temas Resources Announces Draw Down on Equity Facility with Crescita and Shares for Marketing Services
Temas Resources Announces Draw Down on Equity Facility with Crescita
and Shares for Marketing Services
VANCOUVER, British Columbia, [ March 22, 2021] ― 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, min-
ing-friendly jurisdictions, announced t oday it has closed a non -brokered private
placement (the “Private Placement”) of 870,000 common shares at a price of $0.98
per common share. The Private Placement constituted a secondary drawdown of the
$5 million equity investment facility with Crescita Capital LLC.
The Company also announced today it is implementing an online marketing and
awareness program through SRAX Inc. (“ SRAX”). Under the agreement, the
Company will issue common shares of the Company (the “ Shares”) to SRAX in
exchange for marketing services (the “Advertising Services”). Pursuant to the
terms of the agreement, the Company will be issuing 1,223,541 Shares at a deemed
price of $1.04 per Share for the Advertising Services.
About Temas Resources
Temas Resources Corp. (" Temas Resources") (CSE: TMAS) (OTCQB: TMASF) 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 first and
flagship properties are located in the stable, minin g-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 first, the DAB Property,
is an option for 100% interest consisting of 128 contiguous mineral claims which
covers 6,813.72 hectares (68.14 km²) within the Grenville Geological Province. The
flagship, the La Blache Property, is 100% ownership of 48 semi -contiguous mineral
claims which cover 2,653.25 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
For further information or investor relations inquiries, please contact us:
Nick Spencer
Investor Relations
www.temasresources.com
or
Dave Burwell
Vice President
The Howard Group Inc.
Email: [email protected]
Tel: 403-410-7907
Toll Free: 1-888-221-0915
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, expectations, analyses and opinions,
which are based on management’s experience and perception of trends, current conditions
and expected developments, an d other factors that management believes are relevant and
reasonable in the circumstances, but which may prove to 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 s ignificant 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 achi evements 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 conduct of the Company’s
mining activities in Quebec; regulatory, consent or permitting delays; risks relating to reliance
on the Company’s manag ement team and outside contractors; risks regarding mineral
resources and reserves; the Company’s inability to obtain 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 unknowns inherent in all mining projects, including the inaccuracy of
reserves and resources, metallurgical recoveries and capital and operating cost s 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 technical
difficulties in connection with mining or development activities; employee relations, labour
unrest or unavailability; the Company’s inter actions with surrounding communities and
artisanal miners; the Company’s ability to successfully integrate acquired assets; the
speculative nature of exploration and development, including the risks of diminishing
quantities or grades of reserves; stock ma rket 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 intend, and does not assume any obligation, to update these forward ‐looking
statements or forward -looking information to reflect changes in assumpt ions or changes in
circumstances or any other events affecting such statements or information, other than as
required by applicable law.