Temas Resources (ASX:TIO) has closed its private placement, raising C$1.5 million to fund exploration at its La Blache and Lac Brule titanium projects in Québec, Canada.
The company issued 8.33 million flow-through shares at C$0.18 each, with shares subject to a hold period of four months and one day.
The entirety of the placement was issued to a current shareholder, Maple Leaf Critical Minerals 2026 Enhanced Fund.
The Maple Leaf Critical Minerals 2026 Enhanced Fund owns a 9.9% stake in Temas’ equity following the completion of this placement.
Exploration programs will include assaying and re-assaying work, currently underway at La Blache. These exploration campaigns will be complete on or before 31 December 2027.
CEO Tim Fernback says the company is appreciative of Maple Leaf for its support as “one of its key institutional investors”.
“This financing, secured at a price above the current market level, positions us to keep building value by advancing our understanding of gallium and scandium at La Blache, while directing most of our resources toward business development and the commercialisation of our RCL Metallurgical Platform Technology,” Fernback says.
As reported by Mining.com.au, Temas last month appointed a scientific advisory board to accelerate commercialisation and global deployment of its proprietary regenerative chloride leaching (RCL) technology.
Temas Resources is a technology-driven critical minerals company advancing a dual-business model built around proprietary processing innovation and strategic mineral ownership.
Write to Maddison Elliott at Mining.com.au
Images: Temas Resources
