Temas Resources Corp. Announces Retraction of PEA Disclosure in Advance of the Filing of its ASX Listing Application and Prospectus Financing
Rhea-AI Summary
Temas Resources Corp. (OTCQB:TMASF) has announced the retraction of its previous Preliminary Economic Assessment (PEA) disclosures regarding the La Blache Titanium-Vanadium-Iron Project. The company is retracting announcements from February 7, 2024, and March 28, 2024, which included production targets and financial forecasts that lacked reasonable bases for forward-looking statements.
The company is preparing for an ASX listing and concurrent prospectus financing of up to AUD$15 million, co-led by PAC Partners Securities Pty Ltd. and Sandton Capital Advisory Pty Ltd. These funds will be used to advance the La Blache Titanium Dioxide Exploration Project and develop the company's mineral processing technologies.
Positive
- Planned ASX listing to expand market presence and access to capital
- Potential AUD$15 million financing to fund project development
- Strategic focus on both project advancement and technology development
Negative
- Retraction of previous PEA disclosures due to lack of reasonable basis
- Warning to investors not to rely on previous forward-looking statements
- Uncertainty regarding project economics following PEA retraction
News Market Reaction – TMASF
In the Aug 29 session, TMASF declined 4.73%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
VANCOUVER, BC / ACCESS Newswire / August 28, 2025 / Temas Resources Corp. ("Temas" or the "Company") (CSE:TMAS)(OTCQB:TMASF) refers to and retracts the announcements titled "Temas Announces La Blache Titanium-Vanadium-Iron Project PEA Demonstrates CAD
The Announcement contains forward-looking statements in the form of production targets and forecast financial information, however, did not present any reasonable bases for those forward-looking statements. The Company warns investors that due to the absence of a reasonable basis for the statements, they should not rely on either the February 7, 2024 or the March 28, 2024 announcements as a basis for investment decisions. The Company retracts all related disclosures referenced in the aforementioned news releases and from any other continuous disclosure documents filed by the Company.
The proposed ASX Listing and Concurrent up to AUD
All public filings for the Company can be found on the SEDAR+ website www.sedarplus.ca. For more information about the Company, please visit www.temasresources.com
For further information, please contact:
Tim Fernback
President and CEO
tfernback@shaw.ca
Jane Morgan
Jane Morgan Management
Mob: +61 405 555 618
jm@janemorganmanagement.com
Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Statements
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
SOURCE: Temas Resources Corp.
View the original press release on ACCESS Newswire