Temas Resources Announces Closing Of $1 Million Flow-through Financing At $1.00 Per Share
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 private 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 are 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 integrated 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 Institutional 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. Furthermore, 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.
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