Torq Engages Independent Trading Group as Market Maker

Rhea-AI Summary

Torq Resources Inc. has engaged Independent Trading Group for market-making services on the TSX Venture Exchange. ITG will receive CAD$6,000 per month for maintaining market liquidity. The agreement is for a minimum of one month, renewable monthly, with no performance factors or stock options involved.

VANCOUVER, BC / ACCESSWIRE / February 28, 2024 / Torq Resources Inc. (TSX-V:TORQ)(OTCQX:TRBMF) ("Torq" or the "Company") is pleased to announce it has engaged the services of Independent Trading Group ("ITG") to provide market-making services in accordance with policies of the TSX Venture Exchange ("TSXV"). ITG will trade shares of the Company on the TSXV with the objective of maintaining a reasonable market and improving the liquidity of the Company's common shares.

Under the agreement, ITG will receive compensation of CAD$6,000 per month, payable monthly in advance for market making services, primarily to be conducted by ITG's market maker, David Paterson Sears. The agreement is for an initial term, which is a minimum of one month, and is renewable for additional one-month terms unless terminated. The agreement may be terminated by either party by providing written notice of termination of at least 30 days' notice prior to the end of the then current term. There are no performance factors contained in the agreement and ITG will not receive shares or options as compensation. ITG and the Company are unrelated and unaffiliated entities and at the time of the agreement, neither ITG nor its principals have an interest, directly or indirectly, in the securities of the Company.

ON BEHALF OF THE BOARD,

Shawn Wallace
CEO

For further information on Torq Resources, please visit www.torqresources.com or contact Natasha Frakes, VP, Communications, at (778) 729-0500 or info@torqresources.com.

About Independent Trading Group

Independent Trading Group (ITG) Inc. is a Toronto-based IIROC dealer-member that specializes in market making, liquidity provision, agency execution, ultra-low latency connectivity, and bespoke algorithmic trading solutions. Established in 1992, with a focus on market structure, execution and trading, ITG has leveraged its own proprietary technology to deliver high-quality liquidity provision and execution services to a broad array of public issuers and institutional investors.

About Torq Resources

Torq is a Vancouver-based copper and gold exploration company with premium mineral projects in Chile. The Company is establishing itself as a leader of new exploration in prominent mining belts, guided by responsible, respectful and sustainable practices. The Company was built by a management team with prior success in monetizing exploration assets and its specialized technical team is recognized for their extensive experience working with major mining companies, supported by robust safety standards and technical proficiency. The technical team includes Chile-based geologists with invaluable local expertise and a noteworthy track record for major discovery in the country. Torq is committed to operating at the highest standards of applicable environmental, social and governance practices in the pursuit of a landmark discovery. For more information, visit .

Forward Looking Information

This release includes certain statements that may be deemed "forward-looking statements". Forward-looking information is information that includes implied future performance and/or forecast information in particular relating to or associated with the financing of exploration work on its mineral properties. These statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of the Company to be materially different (either positively or negatively) from any future results, performance or achievements expressed or implied by such forward-looking statements, including risks relating to securing investor interest and participation in the target financing goal, and general market and economic conditions. For a discussion of risk factors which could adversely affect the forward looking statements, see the Company's public record filings at www.sedarplus.ca.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Torq Resources Inc.

View the original press release on accesswire.com

FAQ

What services has Torq Resources engaged ITG for?

Torq Resources has engaged ITG for market-making services on the TSX Venture Exchange.

How much compensation will ITG receive per month?

ITG will receive CAD$6,000 per month for their market-making services.

Is the agreement between Torq Resources and ITG renewable?

Yes, the agreement is renewable for additional one-month terms.

Are there any performance factors or stock options involved in the agreement?

No, there are no performance factors or stock options involved in the agreement.

Are ITG and Torq Resources affiliated entities?

No, ITG and Torq Resources are unrelated and unaffiliated entities.