Torr Metals increases financing to $4.57-million

Executive Summary

• Torr Metals Inc. upsized its non‑brokered private placement from up to $2.8 M to up to $4.57 M due to strong investor demand.
• The offering includes FT units, NFT units and charity FT units with associated warrants; total maximum units = 26,289,914.
• Proceeds will fund eligible Canadian flow‑through exploration expenses on the Kolos copper‑gold project and the newly optioned Bertha property, with remaining net proceeds used for general working capital.

Key Details

• Upsized Gross Proceeds: Up to $4.57 million (previously up to $2.8 M).
• Units Offered:
• FT Units: Up to 5,626,765 units at $0.17 per unit. Each unit = 1 flow‑through common share + ½ warrant (exercise price $0.25, 24‑month term).
• NFT Units: Up to 8,753,767 units at $0.13 per unit. Each unit = 1 non‑flow‑through common share + ½ warrant (exercise price $0.21, 24‑month term).
• Charity FT Units: Up to 11,909,382 units at $0.208 per unit. Each unit = 1 flow‑through share + ½ warrant (exercise price $0.21, 24‑month term).
• Warrant Conditions: All warrants expire earlier if the common‑share closing price exceeds $0.35 for ten consecutive trading days.
• Finder’s Fees: May be paid in accordance with TSX Venture Exchange policies.
• Charity FT Units Facilitation: Managed by PearTree Securities Inc.; PearTree receives no fees or commissions from Torr Metals.
• Use of Proceeds – Flow‑Through Portion: Eligible Canadian exploration expenses (flow‑through critical mineral mining expenditures) on:
• Kolos copper‑gold project (275 km², 100% owned).
• Bertha property (57 km², optioned March 2025 with right to earn 100% ownership).
• Renunciation Deadline: Expenditures to be incurred by Dec 31 2026 and renounced to subscribers no later than Dec 31 2025, in an amount not less than gross proceeds from FT and charity FT units.
• Net Proceeds (after flow‑through portion): To be used for general working capital.
• Closing Timeline: Offering rescheduled to close on or before Oct 28 2025; subject to TSX Venture Exchange approval and other customary conditions.
• Hold Period: Securities issued will have a hold period of four months and one day from the closing date.

Notable Quotes

(No executive quotes were provided in the release.)