Temas Resources Completes Initial Phase of Private Placement Funding

Temas Resources Corp., based in Vancouver, BC, announced the successful closure of the first tranche of its non-brokered private placement. The company issued 5,943,690 units at $0.20 each, amassing gross proceeds of $1,188,738. Each unit comprises a common share and a half warrant, allowing holders to purchase additional shares at $0.40 for two years post-closure. This funding aims to further the company's exploration initiatives and support general corporate activities.

Following Canadian securities laws, all shares and warrants issued are subject to a four-month hold period. Notably, company directors participated in the financing, subscribing for 3,353,690 units and contributing $670,738 in gross proceeds. This insider participation is considered a related party transaction under Canadian regulations, exempt from certain formal evaluation and minority approval requirements due to the transaction's scale and the shares' market listing.

In related developments, Temas Resources has engaged Capital Analytica and CanaCom Group for investor relations and communications services, with compensation agreements amounting to $120,000 each. Both firms will assist in enhancing the company's social media presence, investor relations, and overall corporate communications over their respective contractual periods.