Temas retracts PEA NRs, report for La Blache

Executive Summary

• Temas Resources Corp. has officially retracted previous announcements and technical reports regarding the La Blache Titanium-Vanadium-Iron Project Preliminary Economic Assessment (PEA) due to the absence of reasonable bases for forward-looking statements contained therein.
• The company warns investors not to rely on the retracted Feb. 7, 2024, and March 28, 2024, announcements or the associated technical report for investment decisions.
• The retraction precedes the filing of an ASX listing application and a concurrent prospectus financing of up to $15 million AUD.

Key Details

• Retracted Documents: The company retracted the following specific disclosures:
  • Announcement: "Temas Announces La Blache Titanium-Vanadium-Iron Project PEA Demonstrates CAD$6.8B NPV8 55.1% IRR Post-Tax Return" (Feb. 7, 2024).
  • Announcement: "Temas Files Preliminary Economic Assessment Report for La Blache and Clarifies February 7th Release" (March 28, 2024).
  • Technical Report: "Preliminary Economic Assessment for the La Blache Property, Quebec, Canada," dated March 28, 2024.
• Reason for Retraction: The previous announcements contained forward-looking statements (production targets and forecast financial information) without presenting any reasonable bases for those statements.
• Investor Warning: Investors are explicitly warned not to rely on the retracted announcements or any other continuous disclosure documents from the company as a basis for investment decisions.
• Upcoming Financing: The retraction is in advance of a proposed Australian Securities Exchange (ASX) listing and a concurrent prospectus financing of up to $15 million (Australian).
• Financing Advisors: The financing is co-led by PAC Partners Securities Pty. Ltd. and Sandton Capital Advisory Pty. Ltd.
• Use of Proceeds: Funds will be used to advance the La Blache titanium dioxide exploration project and further develop the company's unique mineral processing technologies and intellectual property.

Notable Quotes

• "The announcement contains forward-looking statements in the form of production targets and forecast financial information; however, it did not present any reasonable bases for those forward-looking statements."
• "The company retracts all related disclosures referenced in the aforementioned news releases and from any other continuous disclosure documents filed by the company."