Torq Resources extends C$2.8 million loan to March 2027
Torq Resources received regulatory approval to extend its loan to March 16, 2027, and the lender will receive 56 million warrants, per AccessNewswire.
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what happened
Vancouver-based copper and gold explorer Torq Resources said through ACCESS Newswire that it has received regulatory approval to extend its C$2.8 million loan. The loan is owed to 191010 Investments Limited, and its maturity moves from July 11, 2026 to March 16, 2027, six months after the closing of a recent private placement.
In return, the lender will receive 56,000,000 share purchase warrants. Each warrant can be exercised for one common share at $0.05 until September 16, 2027. A blocker stops exercise if the lender's holding would exceed 9.99% of issued shares without company approval, and waiving it would require TSXV and shareholder approval. If the loan is prepaid before March 16, 2027, the warrants may be reduced on 10 days' notice.
why it matters
For markets this is a small-issuer transaction. The company is not raising new cash, but warrants priced at $0.05 could dilute existing shareholders. For investors in its Chilean exploration projects, the deal highlights reliance on debt financing before the next equity raise.
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- Torq Resources Completes Extension of Credit Facility — accessnewswire.com, 20 October 2026 at 18:10 UTC
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