Temas Resources closes $1.5 million private placement funding

Temas Resources Corp. (ASX:TIO)(CSE:TMAS)(OTCQB: TMASF)(FSE:26P0) completed a non-brokered private placement raising approximately CDN $1.5 million in gross proceeds, according to a company statement.

The offering consisted of 8,333,334 flow-through shares priced at CDN $0.18 per share to a single subscriber, Maple Leaf Critical Minerals 2026 Enhanced Fund. The pricing represents a premium to the current market price of the company's common shares.

Following this transaction, the Maple Leaf Group of Critical Minerals Funds will own approximately 9.9% of Temas Resources' equity. The fund was already a shareholder in the company prior to this placement.

"We appreciate the ongoing support from Maple Leaf Funds, one of our key institutional investors," said Tim Fernback, President and CEO of Temas Resources. "This financing, secured at a price above the current market level, positions us to keep building value by advancing our understanding of gallium and scandium at La Blache, while directing most of our resources toward business development and the commercialization of our RCL Metallurgical Platform Technology."

The proceeds will fund Canadian exploration expenses that qualify as flow-through critical mineral mining expenditures under the Income Tax Act (Canada). These expenditures relate to exploration programs on the company's La Blache and Lac Brule titanium projects in Quebec, including critical mineral and rare earth element assaying work at La Blache. All qualifying expenditures must be incurred by December 31, 2027, and will be renounced to subscribers effective December 31, 2026.

The flow-through shares are subject to a four-month and one-day hold period under Canadian securities laws. No finder's fees were paid in connection with the offering.

Temas Resources develops its Regenerative Chloride Leach technology platform and owns titanium-vanadium-iron projects in Quebec.

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