Business
Torr Metals Announces Closing of Flow-Through Private Placement
Vancouver, British Columbia--(Newsfile Corp. - May 10, 2022) - Torr Metals Inc. (TSXV: TMET) (...
About this update from Torr Metals Inc
[{"type":"text","content":"Torr Metals Announces Closing of Flow-Through Private PlacementVancouver, British Columbia--(Newsfile Corp. - May 10, 2022) - Torr Metals Inc. (TSXV: TMET) (\"Torr\" or the \"Company\")  is pleased to announce that it has closed its previously announced non-brokered private placement (the \"Offering\") of Flow-Through Shares (\"Shares\") pursuant to which it has issued an aggregate of 4,100,000 Shares at $0.33 per Share for gross proceeds of $1,353,000.The gross proceeds from the sale of the Shares will be used only to finance further qualifying Canadian exploration expenditures on the Latham Copper-Gold Project by no later than December 31, 2022, and will qualify as \"flow-through mining expenditures\" as defined under subsection 127(9) of the Income Tax Act (Canada) and subsection 4.721(1) of the Income Tax Act (B.C.).All the securities issued in connection with the Offering will be subject to resale restrictions until September 11, 2022. No finders' fees were paid in connection with the Offering.Completion of the Offering is subject to TSX Venture Exchange's final acceptance.About Torr MetalsTorr Metals is a Vancouver-based mineral exploration company focused on defining and developing the substantial exploration and resource potential of the ~689 km2 Latham Copper-Gold Project, located within the prolific Golden Triangle of northern British Columbia. Year-round access is provided by Highway 37 with the project being favourably located 16 km south of the regional airport in Dease Lake. For further details about the Latham Copper-Gold Project, please refer to the Company's website or current geological Technical Report (August 24, 2021) filed on November 25, 2021 under the Company's profile on SEDAR at www.sedar.com.On behalf of the Board of DirectorsTorr Metals Inc.\"Malcolm Dorsey\"Malcolm DorseyPresident, CEO and DirectorFor further information:Malcolm DorseyTelephone: 236-982-4300Email: [email protected] 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 press release.Cautionary Statement Regarding Forward-Looking InformationThis press release contains \"forward-looking information\" within the meaning of applicable Canadian securities legislation. Forward-looking in...