Torq Extends Offering Period of $0.08 Financing

Rhea-AI Summary

Torq Resources (TSX-V:TORQ, OTCQB:TRBMF) has received approval from the TSX Venture Exchange to extend the closing date of its previously announced unit offering to December 13, 2024. The offering, which was initially announced on October 2, 2024, at $0.08 per unit, remains subject to final TSXV approval and receipt of additional subscription agreements from investors.

Positive

• None.

Negative

• Need to extend offering period suggests potential difficulties in securing sufficient investor interest
• Additional subscription agreements still needed to complete the financing

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, BC / ACCESSWIRE / November 18, 2024 / Torq Resources Inc. (TSX-V:TORQ)(OTCQB:TRBMF) ("Torq" or the "Company") is pleased to announce the Company has received TSX Venture Exchange (the "TSXV") approval to extend the closing of the Company's offering of units, previously announced on October 2, 2024, to December 13, 2024. Closing is subject to customary conditions including final approval of the TSXV and receipt of additional subscription agreements from investors.

ON BEHALF OF THE BOARD,

Shawn Wallace
CEO & Chair

For further information on Torq Resources, please visit www.torqresources.com or contact the company 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 valuable 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 in this release are statements that relate to closing of the Offering, plans for future exploration programs, which are dependent on raising additional capital. 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 some of the principal forward-looking statements. See Torq's Annual Information Form filed April 29, 2024, at www.sedarplus.ca 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) assumes any responsibility for the adequacy or accuracy of this release.

SOURCE: Torq Resources Inc.

View the original press release on accesswire.com

FAQ

What is the new closing date for Torq Resources (TRBMF) $0.08 unit offering?

The new closing date for Torq Resources' unit offering has been extended to December 13, 2024.

When was Torq Resources (TRBMF) unit offering originally announced?

The unit offering was originally announced on October 2, 2024.

What is the price per unit for Torq Resources (TRBMF) current offering?

The offering price is $0.08 per unit.