Torq Resources Closes CA$1.7 Million Private Placement

04:03 PM EDT, 09/16/2026 (MT Newswires) -- Torq Resources (TORQ.V) said Wednesday it has closed its private placement, raising CA$1.7 million. The company issued about 34 million units at CA$0.05 per unit. The financing included CA$70,191.20 from Gold Fields Atacama, a wholly owned affiliate of Gold Fields Limited, according to the statement. Each unit consists of one common share and one warrant. Each warrant allows the holder to purchase one additional share at CA$0.10 until Sept. 16, 2029, the company said, adding that it plans to use the net proceeds for general working capital. "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 Jan. 17, 2027," the company said.