On May 10, 2024, Temas Resources Corp. closed the transaction. The company has issued 2,655,000 units at an issue price of CAD 0.20 per unit for the gross proceeds of CAD 531,000 in the second and final tranche closing.

The Company paid finders a cash fee of CAD 2,520 and issued 12,600 finders? warrants as compensation for introducing certain purchasers of Units to the Company. The Finders?

Warrants have the same terms as the Warrants. Together with the closing of the first financing tranche announced on April 8, 2024, the Company issued an aggregate of 8,598,690 Units for aggregate gross proceeds of CAD 1,719,738 oversubscribing the original offering by approximately 15%. Certain directors of the Company subscribed for an aggregate 3,353,690 Units of the first tranche the Financing for gross proceeds of CAD 670,738 representing approximately 40% of the overall placement.

Pursuant to applicable Canadian securities laws, all securities issued and issuable in connection with the Offering will be subject to a four month hold period commencing on the Closing Date.