Vancouver, British Columbia – August 30th, 2017 – Torq Resources Inc. (TSX-V: TORQ, “Torq” or the “Company”) announces the initial issuance of stock options to directors, officers, employees and consultants of the Company. Prior to this grant, the Company had no stock options or warrants outstanding.
Under the terms of the Company’s existing Stock Option Plan, Torq will grant options to acquire an aggregate of 6,500,000 common shares at a price of $0.85, which represents a 15% premium to the current market price, for period of up to 5 years.
The options will vest over a period of 18 months and all common shares issuable pursuant to the exercise of options will be subject to a hold period of four months and one day from the date of the option grant.
On Behalf of the Board,
President and CEO
For further information on Torq Resources, please contact Jay Adelaar, Manager of Investor Relations at (778) 729-0500 or [email protected]
About Torq Resources:
Torq Resources is a junior exploration company with the goal of establishing a tier-one mineral portfolio. The Company’s management team has raised over $500M and monetized successes in three previous exploration companies. Its initial asset is a 120,000 hectare land package in Newfoundland, Canada, an emerging gold jurisdiction. Torq is continually reviewing and acquiring new precious metals targets on the path to discovery.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.