Torq Resources Completes Extension of Credit Facility
TSX.V: TORQ | OTCQB: TRBMF 1400 - 1199 West Hastings Street, Vancouver, BC, Canada V6E 3T5
Torq Resources Completes Extension of Credit Facility
Vancouver, British Columbia, Canada – June 20, 2025 – Torq Resources Inc. (TSX-V: TORQ, OTCQB:
TRBMF) (“Torq” or the “Company”) is pleased to announce that, further to its March 24, 2025 news
release, it has received regulatory approval for the extension of its Credit Facility for a further one -year
period until July 11, 2026. The Credit Facility in the amount of $2.8 million is extended from July 11, 2025
to July 11, 2026. In consideration the lender will receive 46,666,667 share purchase warrants (“Lender’s
Warrants”), with each Lender’s Warrant exercisable for one common share at the price of $0.06 per
common share until July 11, 2026. The interest rate on the Credit Facility will reset for the last year to
12% and the lender will receive a $30,000 payment in consideration of a recent security priority waiver
and a default waiver. The lenders existing warrants (7,5000,000 at $0.35 exercisable until July 11, 2025)
are being cancelled concurrent with the issuance of the new Lender’s Warrants.
The Lender’s Warrants are subject to a contractual blocker term that will prohibit exercise if the number
of shares that would result on exercise combined with the Lender’s other Torq shares would exceed
9.99% of issued Torq shares without the Company’s approval, which threshold percentage, if waived by
the Company, would require TSXV and Shareholders approval to exceed 19.99% . In accordance with
TSXV policy, the Lenders Warrants are also subject to reduction if the Loan is prepaid before July 11,
2026.
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 [email protected].
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 recognize d 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.