TEMAS RESOURCES ANNOUNCES NON-BROKERED FINANCING
Temas Resources arranges $450,000 private placement
2023-09-22 12:26 ET - News Release
Mr. Samuel Hardy reports
TEMAS RESOURCES ANNOUNCES NON-BROKERED FINANCING
Temas Resources Corp. has arranged a non-brokered private placement of up to 4.5 million units of the company at a price of 10 cents per unit for aggregate gross proceeds to the company of up to $450,000.
Each unit shall comprise one common share in the capital of the company and one common share purchase warrant, with each warrant entitling the holder thereof to purchase one additional common share of the company at a price of 15 cents per warrant share for a period of two years from the closing date. The warrants shall include an acceleration clause which will provide that, in the event that the closing price of the subscriber's common shares on the Canadian Securities Exchange, or such other relevant exchange, is equal to or greater than 30 cents per share for a period of 10 consecutive trading days, the company may provide holders of the warrants with written notice that holders have 30 days within which to exercise the warrants on the original terms.
The gross proceeds raised from the sale of units will be used to advance its exploration programs and for general corporate matters. The offering will be conducted in all provinces of Canada pursuant to private placement exemptions. The closing of the offering is subject to, among other things, the receipt of all necessary approvals from the CSE.
Pursuant to applicable Canadian securities laws, all securities issued and issuable in connection with the offering will be subject to a four-month hold period commencing on the closing date.
About Temas Resources Corp.
Temas Resources is focused on the advanced La Blache and Lac Brule iron-titanium-vanadium projects in Quebec. The critical metals the company is exploring for are key to national mineral independence. Additionally, the company invests in and works to apply its green mineral recovery technologies across its mining portfolio to reduce the environmental impact and carbon footprint of metal extraction through advanced processing and patented leaching technologies.
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