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Tempus Resources Ltd
Symbol TMRR
Shares Issued 98,744,613
Close 2022-03-07 C$ 0.085
Recent Sedar Documents

Tempus Resources arranges $1-million private placement

2022-03-07 16:35 ET - News Release

Ms. Melanie Ross reports

TEMPUS ANNOUNCES NON-BROKERED PRIVATE PLACEMENT OF UP TO C$1.0 MILLION

Tempus Resources Ltd. has arranged a non-brokered private placement for gross proceeds of up to $1-million from the sale of units of the company at a price of seven per unit and flow-through units of the company at a price of 8.5 cents per FT unit. Each unit will consist of one common share of the company and one-half of one common share purchase warrant. Each FT unit will consist of one common share of the company to be issued as a flow-through share within the meaning of the Income Tax Act (Canada) and one-half of one warrant. Each warrant will entitle the holder thereof to purchase one common share of the company at a price of 11 cents for a period of 24 months following the closing date of the offering.

Proceeds from the sale of FT shares will be used to incur Canadian exploration expenses as defined in subsection 66.1(6) of the Income Tax Act and flow through mining expenditures as defined in subsection 127(9) of the Income Tax Act. Such proceeds will be renounced to the subscribers with an effective date not later than Dec. 31, 2022, in the aggregate amount of not less than the total amount of gross proceeds raised from the issue of FT shares. The company intends to use the net proceeds raised from the offering for the exploration of the company's Elizabeth-Blackdome project located in Southern British Columbia, Canada, and for general working capital purposes.

The unit shares, FT shares and warrant shares will be subject to a hold period expiring four months and one day from their date of issuance. A finders fee may be paid on a portion of the proceeds from the offering. Closing of the offering is anticipated to occur on or before March 29, 2022, and is subject to customary closing conditions including, but not limited to, the receipt of applicable regulatory approvals, including the approval of the Australian Stock Exchange and TSX Venture Exchange.

About Tempus Resources Ltd.

Tempus is a growth-orientated gold exploration company listed on ASX and TSX-V and OTCQB stock exchanges. Tempus is actively exploring projects located in Canada and Ecuador. The flagship project for Tempus is the Elizabeth-Blackdome project, a high-grade gold past-producing project located in Southern British Columbia. Tempus is currently midway through a drill program at Elizabeth-Blackdome that will form the basis of an updated National Instrument 43-101/JORC resource estimate. The second key group of projects for Tempus are the Rio Zarza and Valle del Tigre projects located in southeast Ecuador.

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