Torq Announces C$5 Million Non-Brokered Private Placement
TSX.V: TORQ | OTCQX: TRBMF 600 – 1199 West Hastings Street, Vancouver, BC, Canada V6E 3T5
Torq Announces C$5 Million Non-Brokered Private Placement
Vancouver, Canada – February 1, 2022 – Torq Resources Inc. (TSX-V: TORQ , OTCQX: TRBMF) (“Torq” or the
“Company”) announces that it is has arranged certain lead investors for a portion of a proposed non-brokered
private placement for up to C$5 million from the sale of 6,666,667 Torq common shares (the "Shares") at a price of
C$0.75 per Share (the "Placement").
The Company intends to use the net proceeds from the Placement to fund exploration at the Company’s portfolio
of projects in Chile, for ongoing project costs and for general working capital.
The Placement may be completed in multiple tranches and is subje ct to receipt of executed subscription
agreements and funds a s well as customary closing conditions , including conditional approval from the T SX
Venture Exchange. Completion of the placement is targeted for February 2022.
In accordance with applicable se curities laws, the Shares issued under the Placement will be sold to accredited
investors or other investors who are exempt from prospectus requirements and will be subject to a four-month hold
period in Canada. While the Placement is non-brokered, referral fees may be paid on a portion of the proceeds to
eligible persons, where permitted by applicable law. No securities regulatory authority has either approved or
disapproved of the contents of this news release. The securities of the Company have not been, nor will they be,
registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be
offered or sold in the United States, or to or for the account or benefit of any person in the United States, absent
registration or an applicable exemption from the registration requirements. This press release shall not constitute
an offer to sell or the solicitation of an offer to buy any common shares in the United States, or in any other
jurisdiction in which such offer , solicitation or sale would be unlawful. Resales of Shares within the United States
will be restricted in accordance with applicable law.
ON BEHALF OF THE BOARD,
Shawn Wallace
Executive Chairman
For further information on Torq Resources, please contact Natasha Frakes, Vice President of Communications at
(778) 729-0500 or [email protected].
TSX.V: TORQ | OTCQX: TRBMF 600 – 1199 West Hastings Street, Vancouver, BC, Canada V6E 3T5
About Torq Resources
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. For more
information, visit www.torqresources.com.
Forward Looking Information
This release includes certain statements that may be deemed “forward -looking statements”. Forward -looking information is
information that includes implied future performance and/or forecast information including information relating to, or
associated with, exploration and or development of mineral properties. These statements or graphical information involve
known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of the
Company to be materially di fferent (either positively or negatively) from any future results, performance or achievements
expressed or implied by such forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.