VANCOUVER, BC / ACCESS Newswire / October 20, 2026 / Torq Resources Inc. (TSX-V:TORQ)(OTCQB:TRBMF) ("Torq" or the "Company") is pleased to announce that, further to its August 20, 2026 and September 15, 2026 news releases, it has received regulatory approval for the 6-month extension of the Company's C$2.8 million loan owed to 191010 Investments Limited (the "Credit Facility") from July 11, 2026, to March 16, 2027, that being, 6 months from the closing of Torq's recent private placement financing. In consideration the lender will receive 56,000,000 share purchase warrants ("Lender's Warrants"), with each Lender's Warrant exercisable for one common share at the price of $0.05 per common share until September 16, 2027.
The Lender's Warrants are subject to a contractual blocker term that will prohibit exercise if the number of shares that would result on exercise combined with the Lender's other Torq shares would exceed 9.99% of issued Torq shares without the Company's approval, which threshold percentage, if waived by the Company, would require TSXV and Shareholders approval to exceed 19.99%. In accordance with TSXV policy, the Lenders Warrants are also subject to reduction on 10 day's notice if the Loan is prepaid before March 16, 2027.
ON BEHALF OF THE BOARD,
Shawn Wallace
CEO & Chair
For further information on Torq Resources, please visit www.torqresources.com or contact the company at (778) 729-0500 or info@torqresources.com.
About Torq Resources
Torq is a Vancouver-based copper and gold exploration company with a portfolio of premium holdings in Chile. The Company is establishing itself as a leader of new exploration in prominent mining belts, guided by responsible, respectful and sustainable practices. The Company was built by a management team with prior success in monetizing exploration assets and its specialized technical team is recognized for their extensive experience working with major mining companies, supported by robust safety standards and technical proficiency. The technical team includes Chile-based geologists with invaluable local expertise and a noteworthy track record for major discovery in the country. Torq is committed to operating at the highest standards of applicable environmental, social and governance practices in the pursuit of a landmark discovery. For more information, visit www.torqresources.com.
SOURCE: Torq Resources Inc.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/metals-and-mining/torq-resources-completes-extension-of-credit-facility-1239084