Torq Resources Plans C$1.5 Million Capital Raise

Torq Resources Inc (TSE:TORQ) has released an update.

Torq Resources Inc. has announced a private placement aiming to raise up to C$1.5 million by offering 15 million units at $0.10 each. The financing includes warrants exercisable at $0.15 per share within 12 months post-closing, with an acceleration clause if share prices hit $0.30 for 10 consecutive days. Funds raised will support general working capital, with the offering set to close by May 30, 2024, subject to certain conditions and approvals.

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