Torq Increases and Closes C$5.28 Million Private Placement
InvestorSarfari Comments:
Encouraging to see the Private Placement closed and waiting for the Exchange for final approval. Torq now has the funds to advance this one-of-a-kind project. Exciting next few months, to say the least.
VANCOUVER, BC / ACCESSWIRE / March 18, 2022 / Torq Resources Inc. (TSXV:TORQ)(OTCQX:TRBMF) ("Torq" or the "Company") is pleased to announce that it has increased and completed its non-brokered private placement, the amended terms of which were announced February 15, 2022, from C$5 million to C$5.28 million through the issuance of 7,033,400 equity units at an offering price of $0.75. The Company intends to use the net proceeds to fund exploration at the Company's portfolio of projects in Chile, for ongoing project costs and for general working capital. Customary referral fees of approximately 3% of the aggregate proceeds were paid to eligible persons who referred participating investors. The private placement remains subject to final approval from the TSX Venture Exchange.
ON BEHALF OF THE BOARD,
Shawn Wallace
Executive Chair
View source version on accesswire.com:
https://www.accesswire.com/693780/Torq-Increases-and-Closes-C528-Million-Private-Placement