Torq Resources Inc.: Torq to Upsize Financing to $1.7 Million, Provides Other Updates
Torq Resources Inc. (TSXV:TORQ, OTCQB:TRBMF) upsized its private placement financing to $1.7 million, issuing 34,003,824 units at C$0.05 per unit. Gold Fields Atacama Holdings Inc., an affiliate of Gold Fields Limited, participated, increasing its ownership to 10.95%. Proceeds will be used for general working capital. The company also extended a C$2.8 million loan and agreed to extend an earn-in option period by 24 months with Gold Fields.