Temas enters option deal to acquire remainder of ORF

Executive Summary

• Temas Resources Corp. has exercised its option agreement to acquire 100% ownership of ORF Technologies Inc., making it a wholly-owned subsidiary.
• The acquisition grants Temas full control over the Regenerative Chloride Leach (RCL) technology, a proprietary polymetallic hydrometallurgical processing platform comprising 11 distinct process patents.
• The RCL technology is validated to reduce TiO2 processing costs by over 65% and offers high recovery rates for critical metals, battery metals, PGMs, and rare-earth elements, with potential licensing opportunities in Indonesia, Australia, the US, and Canada.

Key Details

• Transaction Structure: Temas Resources exercised an option agreement (originally announced July 10, 2025) to purchase the remaining 50% of outstanding common shares in ORF Technologies Inc., achieving 100% ownership.
• Asset Acquired: ORF Technologies Inc. holds 11 distinct process patents known as the Temas Regenerative Chloride Leach (RCL) technology.
• Technology Capabilities:
  • RCL is a novel polymetallic hydrometallurgical processing platform for complex ores.
  • Capable of enhancing recovery of critical metals, battery metals, platinum group minerals (PGMs), precious/base metals, and rare-earth elements (REEs).
  • Operates at near ambient temperatures with a closed-loop design and high reagent recycling rates.
• Cost and Efficiency Metrics:
  • Validated cost reduction of over 65% for TiO2 processing compared to conventional approaches.
  • Operating costs are approximately 69% lower than conventional processing due to reagent recycling and lower energy use.
  • Enables quicker and more complete liberation of target metals using atmospheric pressure and lower temperatures.
• Product Quality: Pilot testing demonstrated the ability to produce 99.8% pure TiO2 product.
• Commercialization and Licensing:
  • Temas plans to develop, expand, and commercialize the IP portfolio.
  • Actively seeking international partnerships, licensing agreements, and joint ventures.
  • Third-party companies are currently evaluating the ORF IP for processing operations in:
    • Indonesia (Ni/Co/Mg/Fe)
    • Australia (Au/Fe)
    • United States (Minnesota)
    • Ontario, Canada (TiO2/V/Mg/Fe)
• Strategic Integration: The technology supports Temas's dual-business model, complementing its 100% ownership of the La Blache and Lac Brule titanium-vanadium-iron projects in Quebec, Canada.

Notable Quotes

• David Caldwell, Chief Operating Officer: "The RCL metallurgical processing technology will not only assist the development of our existing TiO2 assets in North America, but it will expand our global presence in the world of ore processing and metal refining. The acquisition of remaining ORF IP assets will mark a transformative moment for our company. With 100-per-cent control, we can unlock its full potential, and drive innovation, growth and value for our shareholders."