Business
Temas Resources Acquires 50% of Green Mineral Process Developer ORF Technologies Inc.
VANCOUVER, British Columbia / Apr 13, 2021 / Business Wire / Temas Resources Corp. (CSE: TMAS, OTCQB: TMASF, FSE: 26P) (the “Company” or “Temas Resources”), is
About this update from Temas Resources Corp.
[{"type":"text","content":"VANCOUVER, British Columbia / Apr 13, 2021 / Business Wire / Temas Resources Corp. (CSE: TMAS, OTCQB: TMASF, FSE: 26P) (the “Company” or “Temas Resources”), is pleased to announce that it has finalized its 50% acquisition of ORF Technologies Inc (“ORF”). ORF has developed several patented, innovative leaching and solvent extraction processes. With the ORF transaction, in conjunction with MetaLeach™, Temas believes that these combined technologies will make a difference in helping to alleviate the significant environmental impact that results from present-day mineral processing. Pursuant to the Acquisition, Temas acquired 50% of the outstanding shares of ORF in exchange for a cash payment of $600,000. On closing, the parties entered into a shareholders’ agreement governing their rights and obligations going forward, includ-ing development and dividend policies, and pre-emptive rights to existing shareholders to acquire positions of other existing shareholders. With the 50% acquisition of ORF, Temas’ objectives are to achieve and provide the lowest cost processing alternative for specialty, strategic and rare earth metals producers. Transaction Highlights: COST-EFFICIENCIES: TiO2 technology developed by ORF proved to be 144.8% more cost-efficient than conventional processes. Company anticipates comparable cost efficiencies in the production of nickel, iron, gold, rare earth metals and many more. MORE ENVIRONMENTALLY FRIENDLY:The Recovery Technologies offer a significant reduction in carbon footprint when compared to conventional processing methods. COMPLEMENTARY ACQUISITIONS: ORF provides a suite of technologies which will complement and work alongside the licensing agreement with Metaleach™. The ORF technology suite is also capable of supporting Temas Resources’ internal La Blache projects as well as unrelated third-party mining projects. “We believe this suite of proprietary technologies are immediately employable and will be integral to the economic delivery of products well into the future. There is a company making opportunity especially when considering the high importance and future demand of the ‘Energy and Battery’ metals needs. The objective is to achieve this from the commercialisation of the proprietary & patented hydrometallurgical metals processing technologies (“Leaching Technologies”).” “We are confident that t...