Torrent Gold Announces Closing of $480,000 Private Placement Offering
Torrent Gold Inc. Announces Closing of $480,000 Private
Placement Offering
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STATES
VANCOUVER, BRITISH COLUMBIA March 9, 2026 – To rrent Gold Inc. (CSE: TGLD) (Frankfurt: RV0)
(“Torrent” or the “Company”) has closed the previously announced non-brokered private placement (the
“Private Placement”), effective March 6, 2026, whereby the Company issued 2,400,000 common shares
in the capital of the Company (“ Common Shares”) at a price of $0.20 per Common Share for aggregate
gross proceeds of $480,000. As part of the Private Pl acement, the Company has fully settled debt owing
to certain of its directors and officers who participated in the Private Placement, through the issuance of
550,000 Common Shares. The board of directors of the Company (the “ Board”) has determined that it is
in the best interests of the Company to settle the outstanding debts by the issuance of Common Shares
in order to preserve the Company’s cash for working capital. It is expected that the net proceeds from the
Private Placement will be primarily used to settle current accounts payable and for general working capital
purposes.
The Company paid a cash commission of $6,300 to Haywood Securities Inc. in connection with
subscriptions received from subscribers they introduc ed to the Private Placement. All securities issued
pursuant to the Private Placement are subject to a statutory hold period of four months and one day from
the date of issuance.
Richard Cindric, President & Chief Executive Officer and director of the Comp any, Scott Davis, Chief
Financial Officer of the Company, and Saf Dhillon and Andy Jagpal, directors of the Company, are “related
parties” of the Company pursuant to Multilateral Instrument 61-101 – Take Over Bids and Special
Transactions (“MI 61-101”) and participated in the Private Placement. Accordingly, the Private Placement
constitutes a “related party transa ction” within the meaning of MI 61-101. Pursuant to the Private
Placement, Richard Cindric receiv ed an aggregate of 100,000 Common Sh ares, Scott Davis received an
aggregate of 200,000 Common Shares, Saf Dhillon received an aggregate of 250,000 Common Shares, and
Andy Jagpal received an aggregate of 100,000 Common Shares. The Company is relying on the exemptions
from the formal valuation requirement under sectio n 5.5(b) of MI 61-101 and the minority shareholder
approval requirement under section 5.7(a) of MI 61-1 01, as the fair market value of the Common Shares
to be issued to the related party does not exceed 25% of the Company’s market capitalization. The
Company did not file a material change report in respect of the Private Placement on SEDAR+ less than 21
days prior to closing thereof due to the fact that the Company wished to close the Private Placement as
soon as practicable to enable it to continue its business pursuits and reduce its liabilities.
About Torrent Gold Inc.
Torrent Gold is a mineral and natural resources exploration company that leverages its years of combined
experience in capital markets and mining for acquisition and exploration during the resource commodity
cycles.
ON BEHALF OF THE BOARD OF DIRECTORS
Richard Cindric
President & Chief Executive Officer
FOR FURTHER INFORMATION PLEASE CONTACT:
Richard Cindric
Torrent Gold Inc.
Suite 250 750 West Pender St.
Vancouver, British Columbia
V6C 2T7
Telephone: (604) 719-1796
email: [email protected]
Neither the CSE nor its Market Regu lator (as that term is defined in the policies of the CSE) accepts
responsibility for the adequacy or accuracy of this release.