Torq Completes $1.7 Million Private Placement
On Wednesday, September 16, 2026 at 3:30PM ET
Torq Completes $1.7 Million Private Placement
VANCOUVER, BC / ACCESS Newswire / September 16, 2026 / Torq Resources Inc. (TSX-V:TORQ)(OTCQB:TRBMF)
("Torq" or the "Company") is pleased to announce that it has closed its previously announced private placement (see August
20, 2026 and September 15, 2026 news releases) (the "Placement") for proceeds of C$1,700,191.20 consisting of 34,003,824
units of the Company (the "Units") at a price of C$0.05 per Unit, which includes C$170,191.20 from Gold Fields Atacama
Holdings Inc. ("Gold Fields"), a wholly owned affiliate of the international major mining company, Gold Fields Limited. Each
Unit consists of one common share in the capital of the Company (a "Share") and one common share purchase warrant of the
Company (a "Warrant"). Each Warrant entitles the holder thereof to acquire one Share at an exercise price of C$0.10 per Share
until September 16, 2029. The Company intends to use the net proceeds from the Placement for general working capital.
In connection with the Placement, the Company paid finder's fees consisting of cash commissions of C$29,700.00 and issued
594,000 non-transferable finder's warrants (the "Finder's Warrants") to eligible finders in accordance with applicable securities
laws and the policies of the TSXV. Each Finder's Warrant entitles the holder thereof to acquire one Share at an exercise price of
C$0.10 per Share until September 16, 2029.
The participation by Gold Fields in the Placement constitutes a "related party transaction" within the meaning of Multilateral
Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company relied on the
exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a)
and 5.7(1)(a), respectively, as the Company is listed on TSX Venture Exchange and fair market value of the participation by
insiders in the Placement did not exceed $2.5 million or 25% of the Company's market capitalization
In accordance with applicable securities laws, the securities issued under the Placement are subject to a four-month and one day
hold period from the date of issuance in Canada, which will expire on January 17, 2027.
ON BEHALF OF THE BOARD,
Shawn Wallace
CEO & Chair
For further information on Torq Resources, please visit www.torqresources.com or contact the company at (778) 729-0500 or
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.
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.
SOURCE: Torq Resources Inc.