Torq Resources Extends Credit Facility to 2026

Vancouver-based Torq Resources Inc. has announced the extension of its Credit Facility for an additional year, securing it through July 11, 2026. The facility remains valued at $2.8 million. In exchange, the lender receives 46,666,667 share purchase warrants. Each warrant allows the holder to purchase a common share at $0.06 until July 11, 2026.

The interest rate is set at 12% for the final year. The lender also accepts a $30,000 payment following recent waivers. Existing warrants totaling 7,500,000 at $0.35, due by July 2025, will be annulled to accommodate the new arrangement. A blocker term limits warrant exercises to avoid exceeding 9.99% of Torq shares without prior approval, with further conditions requiring even broader endorsements.