TORQ RESOURCES INC - TRBMF STOCK NEWS

Torq Resources Inc. (OTCQX:TRBMF) has amended its C$3 million credit facility, initially announced on June 23, 2022. The amendment allows for an immediate advance of C$2 million with a 9% annual interest rate. In exchange, the company will issue 3,333,333 warrants at C$0.60 per share, exercisable over two years. Additional warrants will be provided upon future drawdowns. This facility is secured and subject to standard covenants, pending the execution of a definitive agreement and TSX Venture approval.

Torq Resources Inc. (OTCQX: TRBMF) has secured a C$3 million two-year credit facility from an arms-length lender, with $500,000 available immediately. The facility incurs a 9% annual interest and includes a 1% commitment fee along with 4,347,826 share purchase warrants exercisable at C$0.69. The loan is secured by a general security agreement and is subject to customary covenants, pending TSX Venture approval. The warrants have specific exercise limitations and are subject to a four-month hold period.

Torq Resources has announced management changes, appointing Shawn Wallace as CEO and Michael Kosowan as Vice President of Capital Markets. Wallace will continue as Chair of the Board. The company is also creating a new position, Lead Independent Director, filled by Steve Cook. In addition, Tracy George, Corporate Secretary, has been granted 25,000 options. This reorganization aims to enhance executive involvement and support capital market development.

Torq Resources Inc. (OTCQX: TRBMF) announced plans for a follow-up drill program at its Margarita IOCG project in Chile, following a significant discovery in drill hole 22MAR-013R, which intersected 90m of 0.94% copper and 0.84 g/t gold. The program will consist of approximately 4,000m of reverse circulation drilling, focusing on a 1km strike length along the Falla 13 structure. Scheduled to begin in June, road and drill pad construction is underway. Executive Chair Shawn Wallace emphasizes the potential for a world-class discovery.

Torq Resources announced a significant discovery of a new copper and gold sulfide system at its Margarita project in Chile, following a 4,075 m drill program. Drill hole 22MAR-013R revealed 90 m of 0.94% copper and 0.84 g/t gold between 50 m and 140 m depth. The results validate the company’s exploration strategy and suggest substantial IOCG discovery potential. The company is planning a follow-up drilling phase and has expanded its land position by acquiring an additional 200 hectares to enhance exploration prospects.

Torq Resources Inc. (OTCQX:TRBMF) has successfully completed a non-brokered private placement, increasing its total from C$5 million to C$5.28 million. The company issued 7,033,400 equity units at an offering price of $0.75 per unit. Proceeds will fund exploration in Chile, ongoing project costs, and general working capital. The placement is subject to approval from the TSX Venture Exchange. Torq Resources is recognized for its responsible practices in the copper and gold exploration sector in Chile.

Torq Resources Inc. (OTCQX: TRBMF) has successfully completed a C$4.5 million first tranche of its non-brokered private placement, aimed at raising a total of $5 million. The proceeds will be directed towards exploration projects in Chile, covering ongoing costs and general working capital. Executive Chair Shawn Wallace expressed gratitude to shareholders for their support and indicated plans to advance the Santa Cecilia gold-copper project to drill stage soon. The company emphasizes responsible practices in its exploration efforts in prominent mining belts.

Torq Resources Inc. (OTCQX: TRBMF) announced an amendment to its previously disclosed C$5M non-brokered private placement. The new financing terms include a unit priced at $0.75, comprising a common share and a three-year share purchase warrant, exercisable at $1.10. If the common shares trade above $1.75 for 20 consecutive trading days after the first 12 months, the warrant will face an accelerated expiry. All other terms remain unchanged from the initial offering.

Torq Resources Inc. (OTCQX:TRBMF) announced a non-brokered private placement aiming to raise up to C$5 million through the sale of 6,666,667 shares at C$0.75 each. The funds will support exploration in Chile, cover ongoing project expenses, and provide general working capital. The placement is set for completion in multiple tranches, pending approvals. The shares will be sold to accredited investors, subject to a four-month hold period in Canada. This offering underscores Torq's commitment to responsible exploration in its prime Chilean assets.