On September 6, Torq Resources Inc. (TSXV:TORQ) (OTCQX:TRBMF) announced a non-brokered private placement of C$15 million with a wholly owned subsidiary of an international NYSE-listed gold mining business, Gold Fields, at a purchase price of C$1.00 per share on September 6.
The funds will be used to pursue exploration at Torq’s (TSXV:TORQ) (OTCQX:TRBMF) Chilean project portfolio, particularly its Santa Cecilia gold-copper project, for which the company recently inked a seven-year social access agreement. This arrangement aligns with the term of the underlying option agreement and,significantly, allows drilling and exploration to begin.
The business will issue 15,000,000 common shares of Torq (TSXV:TORQ) (OTCQX:TRBMF) at $1.00, reflecting a 23% premium to the TSX Venture Exchange’s 20-day average trading price of Torq (TSXV:TORQ) (OTCQX:TRBMF) common shares ending September 2, 2022. Following the completion of the private placement, Gold Fields will hold roughly 15.05% of Torq’s (TSXV:TORQ) (OTCQX:TRBMF) issued and outstanding shares (undiluted).
Shawn Wallace, Torq (TSXV:TORQ) (OTCQX:TRBMF) CEO & Chair, said: “We are very pleased to have attracted Gold Fields as a strategic investor in Torq (TSXV:TORQ) (OTCQX:TRBMF). An investment of this size at this early stage of exploration represents tremendous confidence in our projects, our approach and our team. This capital will primarily finance the highly anticipated maiden drill program at our flagship Santa Cecilia gold-copper project, as well as additional drilling at Margarita, where we have been working to expand upon our exciting new discovery.”
Torq (TSXV:TORQ) (OTCQX:TRBMF) intends to use the net proceeds primarily for drilling at its Santa Cecilia gold-copper project in Chile’s Maricunga belt and drilling at its Margarita IOCG project in Chile’s Coastal Cordillera belt. The private placement is scheduled to close on or around September 15, 2022, subject to TSX Venture Exchange clearance and other usual closing conditions.
Concerning the strategic investment, the financial advisor to Torq Resources Inc. (TSXV:TORQ) (OTCQX:TRBMF) was Minvisory Corp., which will receive customary compensation based on success, and the legal advisors were McMillan LLP. Gold Fields’ legal advisors were Fasken LLP.
For more information on Torq Resources Inc. (TSXV:TORQ) (OTCQX:TRBMF), please visit this link.
SOURCE Torq Resources Inc. (TSXV:TORQ) (OTCQX:TRBMF)
Please See Disclaimer
ROUYN-NORANDA, Quebec, Dec. 02, 2022 (GLOBE NEWSWIRE) --
GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN – Frankfurt, Stuttgart, Berlin, Munich,
reported impressive fourth-quarter fiscal 2022 results wherein both earnings and revenues surpassed the Zacks Consensus Estimate.
LONDON, ENGLAND / ACCESSWIRE / December 2, 2022 / Orosur Mining Inc. ("Orosur" or "the Company") (AIM/TSX-V:OMI), a South American-focused minerals explorer and developer, announces that at the more...
For Immediate Release
Chicago, IL – December 2, 2022 – Today, Zacks Equity Research discusses American Water Works Company
, Essential Utilities
All values contained herein are in Canadian dollars unless otherwise indicated
NOT FOR DISTRIBUTION IN THE UNITED STATES
TORONTO, Dec. 02, 2022 (GLOBE NEWSWIRE) more...
recently announced its 2023 financial goals and updated its five-year growth rates. The company is planning to further strengthen its infrastructure and more...
VANCOUVER, BC / ACCESSWIRE / December 2, 2022 / Northern Dynasty Minerals Ltd. (TSX:NDM)(NYSE American:NAK) ("Northern Dynasty" or the "Company" or "NDM") announces John Shively, CEO of its more...
Not for distribution to U.S. news wire services or dissemination in the United States.
TORONTO, Dec. 01, 2022 (GLOBE NEWSWIRE) -- Mandalay Resources Corporation (“Mandalay” or more...
1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies set forth in this Article. The author determined which companies would be included in this article based on research and understanding of the sector.
2) The Article was issued on behalf of and sponsored by, Torq Resources Inc. Market Jar Media Inc. has or expects to receive from Torq Resources Inc.’s Digital Marketing Agency of Record (Native Ads Inc.) One Hundred and Twenty Thousand CAD for 22 days (16 business days).
3) Statements and opinions expressed are the opinions of the author and not Market Jar Media Inc., its directors or officers. The author is wholly responsible for the validity of the statements. The author was not paid by Market Jar Media Inc. for this Article. Market Jar Media Inc. was not paid by the author to publish or syndicate this Article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Market Jar Media Inc. requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Market Jar Media Inc. relies upon the authors to accurately provide this information and Market Jar Media Inc. has no means of verifying its accuracy.
and full legal disclaimer as set forth here
. This Article is not a solicitation for investment. Market Jar Media Inc. does not render general or specific investment advice and the information on MiningNewsDaily.com should not be considered a recommendation to buy or sell any security. Market Jar Media Inc. does not endorse or recommend the business, products, services or securities of any company mentioned on MiningNewsDaily.com.
5) Market Jar Media Inc. and its respective directors, officers and employees hold no shares for any company mentioned in the Article.
6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management's expectations regarding Torq Resources Inc.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Torq Resources Inc.’s industry; (b) market opportunity; (c) Torq Resources Inc.’s business plans and strategies; (d) services that Torq Resources Inc. intends to offer; (e) Torq Resources Inc.’s milestone projections and targets; (f) Torq Resources Inc.’s expectations regarding receipt of approval for regulatory applications; (g) Torq Resources Inc.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Torq Resources Inc.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Torq Resources Inc.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Torq Resources Inc.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Torq Resources Inc.’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) Torq Resources Inc.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Torq Resources Inc. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Torq Resources Inc.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Torq Resources Inc.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Torq Resources Inc.’s business operations (e) Torq Resources Inc. may be unable to implement its growth strategy; and (f) increased competition.
Except as required by law, Torq Resources Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Torq Resources Inc. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Torq Resources Inc. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.
7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of Torq Resources Inc. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of Torq Resources Inc. or such entities and are not necessarily indicative of future performance of Torq Resources Inc. or such entities.