Torrent Gold Inc. & Global Oil & Gas Recovery Corp. Sign a Non-Binding LeƩer of Intent
Torrent Gold Inc. & Global Oil & Gas Recovery Corp. Sign a Non-Binding LeƩer of Intent
Vancouver, BriƟsh Columbia (March 27, 2025) - Torrent Gold Inc. (CSE: TGLD) (FSE: RV0) (the “Company”)
is pleased to announce it has signed a non-binding leƩer of intent (“LOI”) to invesƟgate potenƟal business
opportuniƟes with Global Oil & Gas Recovery Corp. (“Global”), a private company focused on the
acquisiƟon and development of legacy and undervalued convenƟonal oil fields. The LOI outlines the terms
that Global and the Company will negoƟate a definiƟve agreement (“DefiniƟve Agreement”) to invesƟgate
new business opportuniƟes together. The parƟes agree that the Company may seek an opƟon to acquire
an interest in Global common shares, assets, technology and future projects (up to 100%) to be described
and set forth in the DefiniƟve Agreement. The parƟes intend, subject to the provisions of the LOI, to work
towards the execuƟon of the DefiniƟve Agreement reflecƟng their understanding of a new business plan
with respect to the possible combina Ɵon of business interests of the parƟes. As part of the Defini Ɵve
Agreement, Mr. Richard Cindric, CEO of Global, is expected to join the Company board of directors.
Daniel Kunz, Chairman of the Company stated: “For the past six years in a row, the United States produced
more crude oil than any na Ɵon at any Ɵme, according to Interna Ɵonal Energy Sta ƟsƟcs. Given the
emphasis on US crude oil producƟon, the upward driŌ in crude oil prices, and rising natural gas prices, this
transacƟon, as a supplement to the Company’s current porƞolio of gold exploraƟon assets, can provide an
excellent opportunity for the Company’s shareholders to parƟcipate in oil and gas assets with important
upside potenƟal.”
Terms of the business plan, transac Ɵon and related financing commitments will be provided in further
news releases if and when the par Ɵes enter into a Defini Ɵve Agreement. The proposed transac Ɵon
contemplates other material condiƟons precedent to the closing of any transacƟon, including compliance
with all applicable regulatory requirements.
About Global Oil & Gas Recovery Corp.
Global’s primary focus is to implement enhanced oil r ecovery (“EOR”) techniques to exisƟng abandoned
wells, maturing oil fields, and previously thought to be exhausted reserves. IniƟally focusing in the states
of Kansas, Oklahoma and Texas, EOR systems can be deployed in any jurisdicƟon as long as the prescribed
condiƟons for EOR are met. Restoring to produc Ɵon formerly producing oil and gas wells can build
underlying reserve value and cash flow opportuniƟes.
Gas Flaring SoluƟon
Global is currently funding the further development of a mobile refining unit (“MRU”). The MRU provides
a potenƟal soluƟon to gas flaring for oil and gas companies who flare more than $10.6 billion in natural
resources every year. The MRU technology is designed to address flaring, venƟng and leaking abandoned
wells by capturing wasted methane gas and converƟng it into a usable fuel. This technology is currently in
its final development stages and could be ready for producƟon in late 2025. Global has the exclusive right
to sell the MRUs in Kansas, Oklahoma, Colorado and California. To learn more visit:
hƩps://globaloilandgasrecovery.com/gas-flaring-soluƟon.
AddiƟonally, Global has idenƟfied an ini Ɵal porƞolio of oil and gas field assets in Kansas, Oklahoma and
Texas. The porƞolio includes producing oil fields with associated proven reserves that are expected to be
posiƟve cash flow at current oil prices. AddiƟonal informaƟon will be provided concerning the assets aŌer
the Company has completed its due diligence.
About Torrent Gold Inc.
Torrent Gold is a mineral explora Ɵon company acquiring and exploring mineral proper Ɵes during the
current resource commodity cycle. Torrent holds two gold exploraƟon properƟes in the Great Basin. The
Company has a Boise, Idaho based technical team that is well posiƟoned to conduct exploraƟon in Idaho,
Nevada, and Utah.
For further informaƟon, please contact:
Torrent Gold Inc.
Daniel Kunz, Chairman
T: (208) 761-7450
Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts
responsibility for the adequacy or accuracy of this release.
Completion of the transaction is subject to several conditions, including but not limited to, the acceptance
of the CSE. There can be no assurance that the transaction will be completed as proposed or at all.
Forward Looking Information
This news release contains certain “forward-looking information” and “forward-looking statements”
within the meaning of Canadian securities legislation as may be amended from time to time, including,
without limitation, statements regarding the perceived merit of the transaction, the terms and conditions
of the proposed transaction, potential quantity and/or grade of oil, the potential size of the resources,
the completion of a concurrent financing and satisfaction of any obligations thereunder, the requisite
approvals with respect to the transaction being obtained. Forward-looking statements are statements
that are not historical facts which address events, results, outcomes or developments that the Company
expects to occur. Forward-looking statements are based on the beliefs, estimates and opinions of the
Company’s management on the date the statements are made, and they involve a number of risks and
uncertainties. Certain material assumptions regarding such forward-looking statements were made,
including without limitation, assumptions regarding the price of oil and gas; the accuracy of resource
estimations; that there will be no material adverse change affecting the Company or its properties; that
all required approvals will be obtained, including concession renewals and permitting; that political and
legal developments will be consistent with current expectations; that currency and exchange rates will be
consistent with current levels; and that there will be no significant disruptions affecting the Company or
its properties. Consequently, there can be no assurances that such statements will prove to be accurate
and actual results and future events could differ materially from those anticipated in such statements.
Forward-looking statements involve significant known and unknown risks and uncertainties, which could
cause actual results to differ materially from those anticipated. These risks include, but are not limited to:
risks related to uncertainties inherent in the preparation of resource estimates, including but not limited
to changes to the cost assumptions, variations in quantity of material, grade or recovery rates, changes to
geotechnical or hydrogeological considerations, failure of plant, equipment or processes, changes to
availability of power or the power rates, ability to maintain social license, changes to interest or tax rates,
changes in project parameters, delays and costs inherent to consulting and accommodating rights of local
communities, environmental risks, title risks, including concession renewal, commodity price and
exchange rate fluctuations, risks relating to the ongoing war in the Ukraine, delays in or failure to receive
access agreements or amended permits, risks inherent in the estimation of mineral resources; and risks
associated with executing the Company’s objectives and strategies, including costs and expenses, as well
as those risk factors discussed in the Company’s most recently filed management’s discussion and
analysis, available on www.sedar.com. Except as required by the securities disclosure laws and regulations
applicable to the Company, the Company undertakes no obligation to update these forward-looking
statements if management’s beliefs, estimates or opinions, or other factors, should change.