Temas completes equity financing

VANCOUVER (British Columbia), December 19, 2022–(BUSINESS WIRE)–Temas Resources Corp. (“Temas” or the “Company”) [CSE: TMAS] The Company is happy to announce the closing of a private placement that was not broker-brokered (the “Financing”) and issuing 1,875,000 flowthrough units (the Units) at a cost of $0.08 each unit for $150,000 in aggregate gross proceeds. Each Unit contains one common share (a “FTShare”) of the Company, which is a “flow through share” according to subsection 66(15), Income Tax Act (Canada), the “Tax Act”), as well as one-half of a common share buy warrant of the company (each whole warrant being a “Warrant”) Each Warrant allows the holder to purchase an additional common share at $0.10 per year from the date of closing.

The Company intends to use the net proceeds of the Financing for exploration activities incurred on its Quebec iron-titanium-vanadium projects, expected to be primarily drilling. The gross proceeds raised from the sale of Units will only be used to incur “Canadian exploration expenses” that are “flow-through mining expenditures” (as such terms are defined in the Tax Act) on the Company’s Quebec mineral iron-titanium-vanadium projects.

Laurentian Bank Securities (“the “Finder”) paid $7,500 cash fees to the Company and issued 168.750 Warrants (the “Finders Warrants”) to the Finder as compensation for introducing Units buyers to the Company. The Finders Warrants give the right to the holder of such warrants to purchase common stock at $0.08 per share for a period up to two (2) years.

An acceleration clause is included in the Warrants. It provides that the closing price for the Purchaser’s Common Shares on the CSE or any other relevant exchange will be equal or greater than C$0.20/share for a period of Thirty (30 The Company may notify Warrant Holders of consecutive trading days that the Warrants are valid for thirty (30) Days.

Securities issued under the Financing are subjected to a four-month and one-day hold period, in accordance to applicable securities laws in Canada.

The Board of Directors.
Michael Dehn, President & CEO

Temas Resources

Temas Resources Corp. (CSE : TMASF;OTCQB : TMASF), is a company that focuses on the development of mineral independence. It also uses sustainable hydrometallurgical technology to extract and process mineral products such as nickel, iron, copper and other sulphide or oxide ores and concentrates. The Company works to implement its green technologies throughout its mining portfolio. This helps to reduce the environmental impact of metal extraction and reduce carbon footprint through advanced processing and patented lesting technologies. The Company is advancing Iron-Titanium-Vanadium projects in Quebec and has recently published results from a preliminary economic assessment on the Piskanja Boron Project in Serbia.

You can access all public filings regarding the Company from the SEDAR website www.sedar.com. Please visit the Company website for additional information. www.temasresources.com.

Forward-Looking Statements

The news release contains certain “forward-looking statements” as required by Canadian securities laws. The words “anticipate”, believe”, estimate”, target”, plan, “target”,” “expect”, and other similar expressions are used in this news release to identify forward-looking statements.

NEITHER CSE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM ARE DEFINED IN THE POLICIES of THE TSX VENTUREEXCHANGE) ACCEPTS RESPONSIBILITY TO THE ADEQUACY AND ACCURACY THIS RELEASE.

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Contacts

For additional information and investor relations inquiries:

Michael Dehn
President and CEO
E-mail: [email protected]
Tel: 647-477-2382