Temas Resources Financials - Aug/21Great to see that Temas Resources issued the 250,000 sharess and warrants to Erin Ventures/Balkan Gold on June 16/21. FYI no announcement regarding this item, as the Exchange had already approved the Partnership and conditions in the Partnership.
SUBSEQUENT EVENTS On July 22, 2021, the Company issued 750,000 shares in connection with the exercise of options for gross proceeds of $75,000.
On June 16, 2021, the Company entered into an option and joint venture agreement with Erin Ventures Inc. and Balkan Gold D.O.O. Temas has the right and option to earn up to a 50% undivided interest in the Piskanja Borate Project located in Serbia by incurring €10,500,000 in work expenditures on the project.
As initial consideration for the option, the Company issued 250,000 common shares and 250,000 common share purchase warrants at a price of $0.32 per share expiring August 4, 2025.
Once again, it is Temas who will initiate/announce the next News Release I'm expecting this month, not Balkan Gold, and Temas will be paying all costs moving forward towards production.
It appears a robust drill program will be one of the many items announced in the upcoming News Release, as per Michael Dehn's comments in the attachment.
https://cloudbreakdiscovery.com/news/joint-development-of-the-piskanja-boron-project/
Recently, someone was asking who the partners were in the Piskanja project and they are, Erin Ventures/Balkan Gold and Temas Resources/Cloudbreak Discovery PLC which recently purchased 15.8% of Temas Resources. I might add Temas Resources/Cloud Break PLC will not own 50% of Piskanja until all $10.5M-EUROS has been injected into the project as per the Partnership Agreement.
Everyone, have a spendid weekend!
(bb-99)