A Corporate Update from the 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 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 allowed under Canadian Securities Regulations.
Torq is on Social Media:
You can now follow Torq Resources on LinkedIn and Twitter for non-material updates and information. The Company’s LinkedIn profile is titled Torq Resources and can be found at https://www.linkedin.com/company/torq-resources-inc/. Torq’s account on Twitter can be followed at @TorqResources. For all material news, you can subscribe to receive updates at www.torqresources.com.
Bryan Atkinson, P.Geo and Exploration Manager for Torq is the qualified person as defined in NI 43-101 who is responsible for the technical contents of this news release.
On Behalf of the Board,
Michael Kosowan
Director, President & CEO
For further information on Torq Resources, please contact Natasha Frakes, Manager of Corporate Communications at (778) 729-0500 or natasha.frakes@torqresources.com.
About Torq Resources:
Torq Resources Inc. 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.
Forward Looking Information
This release includes certain statements that may be deemed “forward-looking statements”. Forward-looking information is information that includes implied future performance and/or forecast information including information relating to, or associated with, exploration and or development of mineral properties. These statements or graphical information involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of the Company to be materially different (either positively or negatively) from any future results, performance or achievements expressed or implied by such forward-looking statements.
Disclaimer
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.
