Vancouver, British Columbia, June 08, 2023 (GLOBE NEWSWIRE) -- Temas Resources Corp. (CSE: TMAS; OTCQB: TMASF) ("Temas" or the "Company") announced today it plans to consolidate all of its issued and outstanding common shares (each, a "Common Share", the "Common Shares") on the basis of nine (9) existing Common Shares for one (1) new Common Share (the "Consolidation").
Upon completion of the Consolidation, the Company is expected to have 9,832,403 issued and outstanding Common Shares. No fractional shares will be issued because of the Consolidation and all fractional interests will be rounded down to the nearest whole number of Common Shares. Each shareholder's percentage of ownership in the Company and proportional voting power will remain unchanged after the Consolidation, except for minor changes and adjustments resulting from the treatment of fractional shares.
Management of the Company believes that the proposed Consolidation will position the Company to gain greater access to capital given the current market conditions.
The Company does not intend to change its name or its current trading symbol in connect with the proposed Consolidation. The Consolidation is subject to all necessary regulatory approvals. In a subsequent news release, Temas will confirm the effective date of the Consolidation and other pertinent details, including the new CUSIP and ISIN as a result of the Consolidation.
About Temas Resources
Temas Resources Corp. (CSE: TMAS) (OTCQB: TMASF) is focused on the advanced La Blache and Lac Brule Iron-Titanium-Vanadium projects in Quebec. The critical metals the Company is exploring for are key to our national mineral independence. Additionally, the Company invests in and works to apply its green mineral recovery technologies across its mining portfolio to reduce the environmental impact and carbon footprint of metal extraction through advanced processing and patented leaching technologies.
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.
For further information or investor relations inquiries:
Samuel "Kyler" Hardy
President and CEO, Director
E-mail: khardy@cronincapital.ca
Tel: (604) 428-9480
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