Temas Resources announces termination of Piskanja Boron Project Option Agreement and Management Changes

Rhea-AI Summary

Temas Resources Corp. (CSE: TMAS; OTCQB: TMASF) has announced the termination of its Option Agreement with Erin Ventures for the Piskanja Borate project, effective January 22, 2023. Additionally, President and CEO Michael Dehn has resigned, with Samuel “Kyler” Hardy appointed as his replacement. Hardy aims to advance the company's Iron-Titanium-Vanadium projects in Quebec. Temas focuses on sustainable mineral processing technologies to reduce environmental impacts.

Positive

• Samuel “Kyler” Hardy appointed as CEO may bring fresh perspectives to the leadership.
• Focus on advancing Iron-Titanium-Vanadium projects in Quebec could enhance growth opportunities.

Negative

• Termination of the Piskanja Borate project may limit diversification and potential revenue streams.
• Leadership change may raise concerns regarding continuity and experience.

VANCOUVER, British Columbia--(BUSINESS WIRE)-- Temas Resources Corp. (“Temas” or the “Company”) [CSE: TMAS] announces that it has terminated its option and joint venture agreement (“Option Agreement”) with Erin Ventures Inc. (“Erin Ventures”) for the joint development of Erin Ventures’ Piskanja Borate project. In accordance with the Option Agreement, Temas has given notice to Erin Ventures for the termination of the Option Agreement which will be effective January 22, 2023.

Additionally, the Company announces that Michael Dehn has resigned as President and CEO of Temas Resources and the Board of Directors.

“On behalf of the Board of Directors of Temas Resources, we would like to thank Michael for his service as President, CEO and Director and we wish him well in his future endeavours,” said Samuel “Kyler” Hardy, current Director of Temas.

Samuel “Kyler” Hardy has been appointed President and CEO and is committed to working with management and other Directors of Temas to advance the Iron-Titanium-Vanadium projects in Quebec.

About Temas Resources

Temas Resources Corp. (CSE: TMAS) (OTCQB: TMASF) is focused on the advancement of mineral independence and processes by which mineral products (nickel, iron, copper, gold, ilmenite and other sulphide and oxide mineral ores and concentrates) are processed and recovered using sustainable hydrometallurgical technologies. The Company invests in and works to apply its green technologies across its mining portfolio to reduce the environmental impact and carbon footprint of metal extraction through advanced processing and patented leaching technologies. The Company is advancing Iron-Titanium-Vanadium projects in Quebec.

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.

NEITHER THE CSE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221223005251/en/

For further information or investor relations inquiries:

Samuel “Kyler” Hardy

President and CEO, Director

E-mail: khardy@cronincapital.ca

Tel: 604-428-9480

Source: Temas Resources Corp.

FAQ

What led to the termination of the Option Agreement with Erin Ventures for the Piskanja Borate project?

Temas Resources Corp. terminated the Option Agreement as part of its strategic decision, effective January 22, 2023.

Who is the new CEO of Temas Resources following the resignation of Michael Dehn?

Samuel “Kyler” Hardy has been appointed as the new President and CEO of Temas Resources.

What are the future plans of Temas Resources after the management change?

The new CEO, Samuel Hardy, is focused on advancing Iron-Titanium-Vanadium projects in Quebec.

How might the termination of the Piskanja Borate project affect Temas Resources' stock?

The termination could limit potential revenue streams, which may impact investor sentiment and stock performance.