VANCOUVER, BC / ACCESSWIRE / July 11, 2022 / Torq Resources Inc. (TSX-V:TORQ)(OTCQX:TRBMF, Financial) ("Torq" or the "Company") announces that it has agreed to amend the C$3 million two-year credit facility announced June 23, 2022. Under the amended terms, $2,000,000 will be advanced to the Company immediately on execution of the amended credit facility agreement. Amounts drawn under the facility are subject to 9% annual interest. In consideration for the grant of the facility, the Company has agreed to pay the lender, 191010 Investments Limited,an entitywhich is affiliated with a current shareholder, 3,333,333 share purchase warrants exercisable at C$0.60 per common share for a two-year period based on the initial $2 million advance. Additional warrants for 100% coverage will be issued at the time of any future draw down of the remaining $1 million with warrants priced at the market price at the time.
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