VANCOUVER, British Columbia, [April 22, 2021] ― Temas Resources Corp. (CSE: TMAS, OTCQB:TMASF, FSE: 26P) (the “Company” or “Temas Resources”) has been requested by OTC Markets Group Inc. to issue this statement about promotional activity concerning its
On April 20, 2021, OTC Markets informed the Company that it became aware of certain promotional activities concerning the Company and its common stock traded on the OTCQB Marketplace, including the distribution of a promotional newsletter e-mail published by OracleDispatch linking to a landing page discussing the industry and Company, its recent licensing agreement and the green energy sector (the “Promotional Content”). OTC Markets provided an example of the promotion material for reference. The Company was made aware of the Promotional Content on April 16, 2021.
OracleDispatch is a third-party newsletter retained by a third-party marketing and advertising firm retained by the Company’s investor relations’ firm CorpComm Services (“CorpComm Canada”) to provide content distribution and advertising services. The Promotional Content presented factual statements regarding the Company, its business and industry. While the Company did not have editorial control over the Promotional Content, CorpComm Canada provided publicly available source information for the newsletters and had partial editorial control over the materials. The Company does not believe the statements in the Promotional Content were false or misleading. The appointment of CorpComm Canada’s parent company (“CorpComm International”, together
“CorpComm”), the nature of the relationship between Temas Resources and CorpComm as well as the compensation to be paid to CorpComm International was publicly disclosed on June 3rd, 2020 and the news release announcing the appointment can be found on
SEDAR and on the Company’s website.
Further, the Company understands this promotional activity may have coincided with increased trading activity in the Company’s common shares beginning on April 13th, The Company does not believe the promotional activities were a factor in the recent increase in trading volume in the Company’s common shares. The Company attributes the increase to news releases issued by the Company on April 13, 2021 and April 14, 2021, which investors can find on SEDAR and on the Company’s website.
After an inquiry by management, none of the Company’s executive officers, directors or, to the knowledge of the Company, any controlling shareholders and third-party service providers, sold or purchased shares of the Company within the past 90 days.
In the last twelve months, the Company has worked with CorpComm, The Howard Group Inc. and The Deep Dive to provide investor relations, public relations services, marketing or other related services.
The OTC Markets has further requested that the Company state whether it has issued any shares or convertible instruments allowing conversion to equity securities at prices constituting a discount to the current market rate at the time of the issuance. The Company represents, as disclosed in its public filings on SEDAR that since listing on the CSE on May 19, 2020, it has issued discounted shares under the $5,000,000 equity investment facility with Crescita Capital LLC which was disclosed January 6, 2021 (300,000 common shares at a price of $0.716) and March 22, 2021 (870,000 common shares at a price of $0.98).
For more complete and specific information regarding the Company, its prospects and the risks associated with those prospects, readers should consult the Company’s public filings on SEDAR, its website and other reliable sources. The Company encourages investors to contact their investment advisers prior to making any investment.
About Temas Resources
Temas Resources Corp. (“Temas Resources“) (CSE:TMAS) (OTCQB:TMASF) (FSE: 26P) is focused on the advancement of mineral independence and the processes in which minerals are extracted in an environmentally friendly manner. Temas Resources invests in and works to apply green technology across its mining portfolio to reduce the environmental impact and carbon footprint of metal extraction through advanced processing and patented leaching technologies.
Temas Resources flagship 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 environmentally friendly acquisition, exploration and development of Iron, Titanium, and Vanadium properties in a socially responsible manner, Temas Resources has focused its efforts on advancing two major projects in the Grenville Geological Province area. The first, the DAB Property, is an optionfor 100% interest consisting of 128 contiguous mineral claims which covers 6,813.72 hectares (68.14 km²) within the Grenville Geological Province. The flagship, the La Blache Property, is 100% ownership of 48 semi-contiguous mineral claims which cover 2,653.25 hectares (26.53 km²) within the Grenville Geological Province. All public filings for the Company can be found on the SEDAR website www.sedar.com. For more information about the Company, please visit www.temasresources.com.
On behalf of the Board of Directors of Temas Resources Corp.,
For further information or investor relations inquiries, please contact us:
The Howard Group Inc.
Toll Free: 1-888-221-0915
For inquiries on using the Temas family of technologies please contact:
President and CEO
Forward Looking Statements
This news release includes certain “Forward‐Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward‐looking information” under applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “would”, “could”, “schedule” and similar words or expressions, identify forward‐looking statements or information.
Forward‐looking statements and forward‐looking information relating to any future mineral production, liquidity, enhanced value and capital markets profile of Temas Resources, future growth potential for Temas Resources and its business, and future exploration plans are based on management’s reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management’s experience and perception of trends, current conditions and expected developments, and other factors that
management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of iron, titanium, vanadium and other metals; no escalation in the severity of the COVID-19 pandemic; costs of exploration and development; the estimated costs of development of exploration projects; Temas Resources’ ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.
These statements reflect Temas Resources’ respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward‐looking statements or forwardlooking information and Temas Resources has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the Company’s dependence on one mineral project; precious metals price volatility; risks associated with the conduct of the Company’s mining activities in Quebec; regulatory, consent or permitting delays; risks relating to reliance on the Company’s management team and outside contractors; risks regarding mineral resources and reserves; the Company’s inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical recoveries and capital and operating costs of such projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; the ability of the communities in which the Company operates to manage and cope with the implications of COVID-19; the economic and financial implications of COVID-19 to the Company; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company’s interactions with surrounding communities and artisanal miners; the Company’s ability to successfully integrate acquired assets; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and the factors identified under the caption “Risk Factors” in Temas Resources’ management discussion and analysis. Readers are cautioned against attributing undue certainty to forward‐looking statements or forward-looking information. Although Temas Resources has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. Temas Resources does not intend, and does not assume any obligation, to update these forward‐looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.