Torex Announces C$55 Million Bought Deal Financing
TOREX ANNOUNCES C$55 MILLION BOUGHT DEAL FINANCING
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
Toronto, Ontario ( January 29, 2018) – Torex Gold Resources Inc. (the “Company” or “Torex”)
(TSX:TXG) has announced today that it has entered into an agreement with a syndicate of
underwriters led by BMO Capital Markets, under which the underwriters have agreed to buy on a
bought deal basis 4,370,000 common shares (the “ Common Shares”) at a price of C$ 12.60 per
Common Share for gross proceeds of approximately C$55 million (the “Offering”). The Company has
granted the Underwriters an option, exercisable at the offering price for a period of 30 days following
the closing of the Offering, to purchase up to an additional 15% of the Offering to cover over -
allotments, if any. The Offering is expected to cl ose on or about February 7, 2018 and is subject to the
Company receiving all necessary regulatory approvals.
The company intends to use the net proceeds for the Offering to fund and provide liquidity for its
working capital obligations during the re -start and ramp -up of the ELG Mine Complex, and for general
corporate purposes.
The Offering is being made under Company's base shelf prospectus dated January 24, 201 8. The
Company intends to file a prospectus supplement relating to the issuance of the Common Shares by
January 31, 2018 with the securities commissions and other similar regulatory a uthorities in each of the
provinces and territories of Canada, except Québec.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there
be any sale of the securities in the United States or in any other jurisdiction in which such offer,
solicitation or sale would be unlawful. The securities have not been registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements thereunder.
About Torex
Torex is an emerging intermediate gold producer based in Cana da, engaged in the exploration,
development and operation of its 100% owned Morelos Gold Property, an area of 29,000 hectares in
the highly prospective Guerrero Gold Belt located 180 kilometers southwest of Mexico City. Within this
property, Torex has the El Limón Guajes Mine, which anno unced commercial production in March of
2016; the Sub -Sill Underground Project currently under development; and the Media Luna Project,
which is in an early stage of development and for which the Company issued a preliminary economic
assessment (PEA) in 2015. The property remains 75% unexplored.
For further information, please contact:
TOREX GOLD RESOURCES INC.
Fred Stanford
President and CEO
Tel.: (647) 260-1502
Email: [email protected]
Gabriela Sanchez
Vice President Investor Relations
Tel.: (647) 260-1503
Email: [email protected]
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS
This press release contains “forward -looking statements” and “forward -looking information” within the
meaning of applicable Canadian securiti es legislation. Forward -looking information includes, without
limitation, information with respect to the filing of a prospectus supplement in respect of the Offering,
the closing of the Offering and the use of proceeds of such Offering . Generally, forward -looking
information can be identified by the use of terminology such as “plans”, “expects”, “estimates”,
“intends”, “anticipates”, “believes” or variations of such words, or statements that certain actions,
events or results “may”, “could”, “would”, “migh t”, “will be taken”, “occur” or “be achieved”. Forward -
looking information is subject to known and unknown risks, uncertainties and other factors that may
cause the Company’s actual results, level of activity, performance or achievements to be materially
different from those expressed or implied by such forward -looking information, including, without
limitation, risks related to the inability to realize resource and reserve estimates at anticipated recovery
levels or at all, assumptions underlying resource estimates being incorrect, and those risk factors
identified in the Company’s base shelf prospectus, annual information form and management’s
discussion and analysis. Forward -looking information is based on the reasonable assumptions,
estimates, analysis a nd opinions of management made in light of its experience and perception of
trends, current conditions and expected developments, and other factors that management believes
are relevant and reasonable in the circumstances at the date such statements are ma de. Although the
Company has attempted to identify important factors that could cause actual results to differ materially
from those contained in forward -looking information, there may be other factors that cause results not
to be as anticipated. There can be no assurance that such information will prove to be accurate, as
actual results and future events could differ materially from those anticipated in such information.
Accordingly, readers should not place undue reliance on forward -looking information. T he Company
does not undertake to update a ny forward -looking information, except in accordance with applicable
securities laws.