Torq Resources Grants Stock Options

Rhea-AI Summary

Torq Resources Inc. (OTCQX:TRBMF) announced the grant of incentive stock options for 420,000 common shares to its officers at an exercise price of C$0.77, expiring in five years, pending customary stock exchange approvals. The company, focused on mineral exploration, is advancing the recently acquired Margarita iron-oxide-copper-gold project in Chile to drill stage. With over $550 million raised by its management team from previous ventures, Torq is actively seeking new mineral targets for acquisition and exploration.

Positive

• Granting of stock options may align management's interests with those of shareholders.
• Acquisition and advancement of the Margarita project signifies strategic growth.
• Management's history of raising over $550 million indicates strong financial acumen.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / April 7, 2021 / Torq Resources Inc. (TSXV:TORQ)(OTCQX:TRBMF) ("Torq" or the "Company") announces the grant of incentive stock options, subject to customary stock exchange approvals, for the purchase of 420,000 common shares to officers of the Company. The options are exercisable at C$0.77 and expire five years from the date of grant.

About Torq Resources:
Torq is a junior exploration company focused on establishing a top-tier mineral portfolio. It recently acquired the Margarita iron-oxide-copper-gold project in Chile and is actively advancing the project to drill stage. The Company's management team has raised over $550 million and monetized successes in two previous exploration companies. Torq is continually reviewing mineral targets in pursuit of acquisition, strategic exploration and significant discovery.

ON BEHALF OF THE BOARD,
Shawn Wallace
Executive Chairman

For further information on Torq Resources, please contact Natasha Frakes, Manager of Corporate Communications at (778) 729-0500 or info@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.

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 source version on accesswire.com:
https://www.accesswire.com/639404/Torq-Resources-Grants-Stock-Options

FAQ

What stock options were granted by Torq Resources Inc. on April 7, 2021?

Torq Resources Inc. granted incentive stock options for 420,000 common shares at an exercise price of C$0.77.

What is the expiry date for the stock options granted by Torq Resources?

The options granted by Torq Resources expire five years from the date of grant.

How much capital has Torq Resources raised in previous ventures?

Torq Resources' management team has raised over $550 million from previous exploration companies.

What project is Torq Resources advancing?

Torq Resources is advancing the Margarita iron-oxide-copper-gold project in Chile to drill stage.