Torq Resources Announces CAD$2 Million Private Placement
VANCOUVER, BC, March 24, 2025 – Torq Resources Inc. (TSXV:TORQ)(OTCQB:TRBMF) (the “Company” or “Torq”) is pleased to announce a non-brokered private placement of 33.33 million equity units of the Company (the “Units”) at an offering price of CAD$0.06 per Unit. This financing is expected to bring gross proceeds of $2 million to Torq.
Details of the Private Placement
Each Unit will consist of one common share (a “Share”) and one full common share purchase warrant (each, a “Warrant”). The Warrants will be exercisable at an exercise price of CAD$0.10 per Share for a term of five years from the closing date of the Offering.
Use of Proceeds
The net proceeds from the Offering will be used for exploration and development of the Company’s mineral properties, general working capital, and for corporate and administrative purposes.
Effect on Individual Investors
For individual investors, the private placement may provide an opportunity to invest in Torq Resources at a potentially lower price than the current market price. The warrants issued as part of the Units may also offer potential upside if the Torq’s share price rises above the exercise price within the term of the warrants.
Effect on the World
On a larger scale, the private placement is a reflection of the ongoing investor interest in the mining sector, particularly in companies with promising mineral projects. Torq Resources’ ability to raise $2 million through this financing demonstrates the confidence investors have in the Company’s potential for growth and value creation.
Conclusion
Torq Resources’ announcement of a CAD$2 million private placement is an encouraging sign for the Company and its investors. The financing will provide the Company with essential funds for exploration and development, while offering potential value to new investors through the issue of warrants. On a broader scale, the private placement underscores the continued investor interest in the mining sector and the potential for growth in the industry.
- Torq Resources announces non-brokered private placement of 33.33 million Units at CAD$0.06 per Unit for gross proceeds of $2 million
- Each Unit consists of one Share and one Warrant exercisable at CAD$0.10 per Share for five years
- Proceeds to be used for exploration, working capital, and administrative purposes
- Investor interest in mining sector remains strong, reflected in Torq’s ability to raise funds
