Torq Resources Announces Voting Results of 2022 Annual General Meeting

Rhea-AI Summary

Torq Resources Inc. (TRBMF) reported the results of its Annual General Meeting held on August 18, 2022, in Vancouver. A total of 23,348,644 common shares, representing 27.57% of outstanding shares, were present at the meeting. All director nominees received overwhelming support, with votes for Shawn Wallace at 99.98% and other nominees receiving over 99% approval. Shareholders also approved the reappointment of Deloitte LLP as auditor and continued the 10% rolling share option plan, with 7,782,500 options already issued.

Positive

• Director nominees overwhelmingly elected with high approval rates, indicating strong shareholder confidence.
• Reappointment of Deloitte LLP as auditor signifies continued institutional governance.
• Continuing the 10% rolling share option plan allows for future incentivization of management and staff.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / August 19, 2022 / Torq Resources Inc. (TSXV:TORQ) (OTCQX:TRBMF) ("Torq" or the "Company") is pleased to announce the voting results for election of its Board of Directors at the Annual General Meeting (the "Meeting") of Shareholders held on August 18, 2022 in Vancouver, British Columbia. The director nominees, as listed in the Company's Information Circular dated July 6, 2022 ("Circular") and SEDAR filed July 14, 2022, were elected as directors of the Company to serve until the next annual general meeting.

A total of 23,348,644 of the Company's common shares ("Common Shares") were present or represented by proxy at the Meeting, representing 27.57% of the outstanding common shares. The voting results for the election of directors are as follows:

Name of Nominee	Votes For	Votes For (%)	Votes Withheld/Abstain	Votes Withheld/ Abstain (%)
Shawn Wallace	23,345,008	99.98%	3,636	0.02%
Steve Cook	23,335,858	99.95%	12,786	0.05%
Michael Kosowan	23,345,858	99.99%	2,786	0.01%
Jeffrey Mason	23,335,858	99.95%	12,786	0.05%
Marie-Hélène Turgeon	23,321,554	99.88%	27,090	0.12%
Ana Carolina Vargas	23,323,554	99.89%	25,090	0.11%

The reappointment of Deloitte LLP, Chartered Professional Accountants, as auditor of the Company, was approved by the shareholders.

The shareholders also resolved to continue the Company's customary 10% rolling share option plan (the "Plan") including certain non-material amendments for US participants. Options may be granted under the Plan at the prevailing Discounted Market Price for up to 10 years with vesting periods determined at management's discretion. As of the date hereof there are 7,782,500 options issued under the plan (9.2% of issued shares) exercisable at an average exercise price of $0.78 expiring over the period 2022 to 2027. Approximately 686,548 options remain available for future grants. The Plan is subject to TSX Venture Exchange review and approval. Details of the Plan are contained in the Company's Circular.

ON BEHALF OF THE BOARD,

Shawn Wallace
CEO & Chair

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 Torq Resources

Torq is a Vancouver-based copper and gold exploration company with a portfolio of premium holdings 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 www.torqresources.com.

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 including information relating to, or associated with, exploration and or development of mineral properties. These statements or graphical information 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. See Torq's public filings at www.sedar.com for disclosure of the risks and uncertainties faced in this business.

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.

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https://www.accesswire.com/712891/Torq-Resources-Announces-Voting-Results-of-2022-Annual-General-Meeting

FAQ

What were the voting results for Torq Resources Inc. at the 2022 Annual General Meeting?

At the 2022 Annual General Meeting, all director nominees were overwhelmingly elected, with Shawn Wallace receiving 99.98% votes in favor.

What percentage of shares were represented at the Torq Resources Inc. AGM?

A total of 27.57% of the outstanding common shares were present or represented by proxy at the AGM.

Who were reappointed as auditors for Torq Resources Inc.?

Deloitte LLP was reappointed as the auditor of Torq Resources Inc. at the AGM.

What is the status of the rolling share option plan for Torq Resources Inc.?

The 10% rolling share option plan was continued, with 7,782,500 options already issued and approximately 686,548 options available for future grants.

How many common shares were present at the Torq Resources Inc. AGM?

A total of 23,348,644 common shares were present or represented at the AGM.