Torq Secures C$15 Million Strategic Investment From Gold Fields
09/06/22, 4:53 PM
Location
vancouverMoney raised
$15 million
Industry
mining
natural resources
VANCOUVER, BC / September 6, 2022 / Torq Resources Inc. (TSX-V:TORQ, OTCQX:TRBMF) ("Torq" or the "Company") is pleased to announce a C$15 million non-brokered private placement with a wholly owned affiliate of NYSE listed international gold mining company, ("Gold Fields"), at a purchase price of C$1.00 per share. The funds will be used to advance Torq's portfolio of projects in Chile, primarily its Santa Cecilia gold-copper project, where the Company has recently signed a 7-year social access agreement, which covers the length of the underlying option agreement and most importantly will allow for drilling and other exploration activities to commence. The Company will issue an aggregate of 15,000,000 Torq common shares at $1.00, which represents a 23% premium to the 20-day average trading price of Torq's common shares on the TSX Venture Exchange, ending September 2, 2022
Company Info
Location
vancouver, british columbia, canada
Additional Info
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 invaluable 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.