Torq Resources Inc. has completed its private placement to raise gross proceeds of C$1,700,191.20 through the issuance of 34,003,824 units at a price of C$0.05 per unit.

The financing includes C$170,191.20 in participation from Gold Fields Atacama Holdings Inc., a wholly owned affiliate of Gold Fields Limited. Each unit delivered in the placement consists of one common share and one common share purchase warrant. Every warrant allows the holder to acquire an additional share at an exercise price of C$0.10 until September 16, 2029. Net proceeds from the offering are earmarked for general working capital requirements.

Finder's fees associated with the transaction included cash commissions totalling C$29,700.00 alongside the issuance of 594,000 non-transferable finder's warrants. These finder's warrants carry the same exercise price of C$0.10 and expiry date of September 16, 2029 as the main placement warrants.

Because of Gold Fields' participation, the arrangement constituted a related party transaction under applicable regulatory rules. Torq relied on exemptions from formal valuation and minority shareholder approval requirements based on its exchange listing and the fair market value of insider participation. All securities issued under the placement are subject to a statutory four-month and one day hold period in Canada expiring on January 17, 2027.

The equity raise follows previous operational work by the company, including a 4,062.5-metre diamond drilling campaign carried out across five holes at the Santa Cecilia project under an exploration partnership with Gold Fields. That operational context runs parallel to active regional exploration in the surrounding district, where NGEx Minerals Ltd. reported drill results including 20.50 metres at 17.83% copper equivalent at the Lunahuasi project on July 30, 2026.

Following the financing, Torq shares are currently trading at $0.055, representing a 10.00% increase. Market participation also expanded notably, with trading volume reaching 457% above the 50-day average of 28,454 shares.

Read the full announcement: Torq Completes $1.7 Million Private Placement