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Torq Resources: Corporate Update from President & CEO and Results from the 2018 AGM
VANCOUVER, British Columbia, June 19, 2018 (GLOBE NEWSWIRE) -- Torq Resources Inc. (TSX-V:TORQ) (OTCQX:TRBMF) (“Torq” or the “Company”) held its annual general
About this update from Torq Resources Inc.
[{"type":"text","content":" VANCOUVER, British Columbia, June 19, 2018 (GLOBE NEWSWIRE) -- Torq Resources Inc. (TSX-V:TORQ) (OTCQX:TRBMF) (“Torq” or the “Company”) held its annual general meeting (the “Meeting”) on June 14, 2018 and is pleased to announce that the board of directors from the previous year will continue to hold their positions until the next Meeting. A Message from Torq’s President and CEO: Michael Kosowan stated, “One of Torq’s strongest assets is our team. They are the reason we have been able to stay well capitalized in a challenging market, which has positioned us to take advantage of low-cost but high-value acquisitions. Torq’s two new assets in Utah are a prime example. They demonstrate our ability to make accretive acquisitions while pursuing an aggressive exploration program in Newfoundland.” In regards to the Company’s projects, Mr. Kosowan further stated, “Based on recent mapping and historic surface results, there appears to be a previously unrecognized gold system at our Speedway project in Utah. This system is considered similar to deposits found in Nevada because of the sediment-hosted style of gold mineralization. Likewise, at West Mercur we are seeing Carlin-style mineralization, and our crews are developing an exploration strategy, so watch for news in the coming weeks.” “Newfoundland maintains great potential for a high-grade gold scenario in Canada. The high-grade vein sets we have seen in historic surface results at our Gander block remain largely under cover, but we are focusing our targeting efforts and will be trenching in the coming months.” AGM Voting Results: A total of 24,641,952 of the Company’s common shares (“Common Shares”) were present or represented by proxy at the Meeting, representing 31.87% of the outstanding common shares. The voting results for the election of directors are as follows: Name of Nominee Votes For Votes For (%) Votes Withheld/Abstain Votes Withheld/Abstain (%) Michael Kosowan 22,620,759 99.94 % 13,250 0.06 % Ivan Bebek 22,620,759 99.94 % 13,250 0.06 % Shawn Wallace 21,620,759 95.52 % 1,013,250 4.48 % Steve Cook 22,630,759 99.99 % 3,250 0.01 % Jeffery Mason 22,630,759 99.99 % 3,250 0.01 % There were 1,799,833 non-votes recorded (but not voted) for each director. Non-votes are discretionary votes given to a broker by a US beneficial holder but such votes are not allow...