Torq Resources Secures C$1.25 Million Financing, Extends Loan

Torq Resources Inc. has announced a proposed non-brokered private placement to raise at least C$1.25 million. This will be achieved through the sale of a minimum of 25 million equity units, each priced at C$0.05. Each unit includes a common share and a three-year warrant allowing purchase of an additional share at C$0.10. The placement is crucial for extending the company's C$2.8 million loan with 191010 Investments Limited by six months, starting from the placement's completion. This extension involves issuing 56 million warrants at C$0.05. Both transactions await TSX Venture Exchange approval.

Funds from the placement will be allocated to general working capital. The placement may occur in multiple tranches and requires subscription agreements, funds, and TSXV conditional approval. Expected completion is by late August 2026. The units will be sold to accredited or exempt investors, with a four-month holding period. Torq may offer a 6% cash finder's fee and equivalent non-transferable warrants as incentives. Securities are not registered under the U.S. Securities Act, restricting resale in the U.S.