Torq Closes C$15 Million Strategic Investment from Gold Fields
TSX.V: TORQ | OTCQX: TRBMF 1630 – 1177 West Hastings Street, Vancouver, BC, Canada V6E 2K3
LEGAL_39728041.2
Torq Closes C$15 Million Strategic Investment from Gold Fields
Vancouver, Canada – September 15, 2022 – Torq Resources Inc. (TSX -V: TORQ, OTCQX: TRBMF)
(“Torq” or the “Company”) is pleased to announce that it has closed the C$15 million non-brokered
private placement with a wholly owned affiliate of NYSE listed international gold mining company,
Gold Fields Limited (“Gold Fields”) that was previously announced on September 6, 2022. The
Company issued an aggregate of 15,000,000 Torq common shares at $1.00 per share , resulting in
Gold Fields owning approximately 15.05% of Torq’s issued and outstanding shares (undiluted). The
funds will be used to advance Torq’s portfolio of projects in Chile, primarily its Santa Cecilia gold -
copper project. The private placement shares are subject to both a four -month statutory hold period
and a one -year contractual hold period under the investment agreement referred to in the Company’s
September 6, 2022 news release.
A Message from Shawn Wallace, CEO & Chai r:
“The closing of this placement allows us to rapidly move forward with exploration at our Santa Cecilia
project. We expect to have a team on the ground in October to commence pre -drilling targeting work
so that we can be ready to initiate our maiden drill program at the project in early 2023. Additionally,
we look forward to receiving the remaining assay results from our Margarita project in the coming
weeks.”
With respect to the strategic investment, Torq’s financial advisor was Minvisory Cor p., which will
receive a customary success -based fee, and legal advisors were McMillan LLP. The legal advisors to
Gold Fields were Fasken Martineau DuMoulin LLP .
ON BEHALF OF THE BOARD,
Shawn Wallace
CEO & Chair
For further information on Torq Resources, please visit www.torqresources.com or contact Natasha
Frakes, VP, Communications, at (778) 729-0500 or [email protected].
TSX.V: TORQ | OTCQX: TRBMF 1630 – 1177 West Hastings Street, Vancouver, BC, Canada V6E 2K3
LEGAL_39728041.2
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 profi ciency. 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 gov ernance 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 different (either positively or negatively) from any future re sults, performance or achievements
expressed or implied by such forward-looking statements. See Torq’s public filings at ww.sedar.com for disclosure of the risks
and uncertainties faced in this business.
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.