Junior Mining Network
  • Dashboard
  • Newsroom
  • Featured Miners
  • Investor Clips
  • Heat Map
  • Market Data
  • Mining Topics
  • Watch List
Junior Mining Network
Balmoral Resources

Torex Completes Closing of Over-Allotment Option

TSX: TXG
www.torexgold.com

Mr. Fred Stanford reports:

Not for distribution to U.S. news wire services or dissemination in the United States

TORONTO, Feb. 16, 2018 (GLOBE NEWSWIRE) -- Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX:TXG) is pleased to announce that it issued an additional 130,500 common shares of the Company (the “Common Shares”) as a result of the exercise of the remainder of the over-allotment option granted to the syndicate of underwriters (the “Underwriters”) led by BMO Capital Markets in connection with its previously announced offering (the “Offering”). An aggregate of 5,025,500 Common Shares were issued by the Company at a price per Common Share of C$12.60 pursuant to the Offering, including the 525,000 Common Shares issued on the partial exercise of the over-allotment option concurrent with the closing of the Offering on February 7, 2018 and the 130,500 Common Shares issued today on the exercise of the remainder of the over-allotment option, for aggregate gross proceeds of C$63,321,300.

The net proceeds of the Offering will be used to fund and provide liquidity for the Company’s working capital obligations during the re-start and ramp-up of the ELG Mine Complex, as required, and for general corporate purposes. 

The Common Shares issued pursuant to the Offering have not been and will not be registered under the US Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and accordingly may not be offered or sold within the United States except in transactions exempt from the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release does not constitute an offer to sell, or the solicitation of an offer to buy the Common Shares, nor will there be any sale of the Common Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful. 

About Torex

Torex is an emerging intermediate gold producer based in Canada, engaged in the exploration, development and operation of its 100% owned Morelos Gold Property, an area of 29,000 hectares in the highly prospective Guerrero Gold Belt located 180 kilometers southwest of Mexico City. Within this property, Torex has the El Limón Guajes Mine, which announced commercial production in March of 2016, the Sub-Sill Project, currently under development, and the Media Luna Project, an early stage development project for which the Company issued a preliminary economic assessment (PEA) in 2015. The property remains 75% unexplored.

Contact Information:

TOREX GOLD RESOURCES INC.
Fred Stanford
President and CEO
Tel. (647) 260-1502
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Gabriela Sanchez
Vice President Investor Relations
Tel. (647) 260-1503 
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS

This press release contains “forward-looking statements” and “forward-looking information” within the meaning of applicable Canadian securities legislation. Notwithstanding the Company’s efforts, there can be no guarantee that the Company will not face unforeseen delays or disruptions of the operations. Forward-looking information also includes, but is not limited to, use of proceeds of the Offering. Generally, forward-looking information can be can be identified by the use of forward-looking terminology such “purpose”, “budgeted”, “scheduled”, “potentially”, “proposed”, “pending”, “contemplates”, “plans”, “expects”, “estimates”, “intends”, “anticipates”,  “believes”, or “subsequent” or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur”, or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the activities of the Company to be materially different from those expressed or implied by such forward-looking information, including, without limitation, those risk factors identified in the Company’s base shelf prospectus and prospectus supplement in connection with the Offering, annual information form and management’s discussion and analysis. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Although the Company believes that the assumptions and expectations reflected in such forward-looking information are reasonable, undue reliance should not be placed on forward-looking information because the Company can give no assurance that such expectations will prove to be correct. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

MORE MINING NEWS

Pretivm Reports 2018 Results and 2019 Outlook
Agnico Eagle Mines Reports Fourth Quarter and Full Year 2018 Results - Three-Year Guidance Outlines Growing Production with Stable to Declining Unit Costs; Meliadine Mill Commissioning Underway with Project Ahead of Schedule and Under Budget
First Quantum Minerals Reports Fourth Quarter and Full Year 2018 Results
Lundin Mining Fourth Quarter and Full Year Results
Yamana Gold Announces Fourth Quarter and Full Year 2018 Results
North American Palladium Reports $167.8M in Adjusted EBITDA for 2018, Announces Quarterly Dividend
New Gold Reports Fourth Quarter and Year-End Financial Results
Asanko Gold Reports Q4 and Full Year 2018 Results, and Provides 2019 Guidance
Torex Gold Announces Positive Results From Its First Infill Program Targeting the El Limon Deep (ELD) Zone
NexGen Energy Releases Results from Shaft Pilot Hole Report and Assays from the Development Drilling Summer 2018 Program
Fortuna Silver Mines provides review of Brownfields exploration programs
SilverCrest Metals Announces Babi Sur Vein High-Grade Discovery at Las Chispas

GET DAILY NEWS FLOW

Sign Up To Receive All Morning
News To Your Email Inbox

Torex Gold Resources

ADD TO WATCH LIST
Last Trade: C$14.25
Daily Change: -0.05 -0.35
Daily Volume: 126,099
Market Cap: C$1.220B
February 14, 2019
Torex Gold Announces Positive Results From Its First Infill Program Targeting the El Limon Deep (ELD) Zone
February 04, 2019
Torex Gold Provides Notice of Fourth Quarter and Year End 2018 Financial and Operational Results
January 10, 2019
Torex Gold Resources Reports Record Production of 354,000 Ounces of Gold in 2018 and Provides 2019 Outlook
November 20, 2018
Torex Gold Resources Reports Continued Exploration Success in the Sub-Sill Zone
November 08, 2018
Torex Gold Resources Announces Q3 2018 Results With Record Gold Production
October 25, 2018
Torex Reports Initial Results From the Media Luna In-Fill Diamond Drilling Program
October 23, 2018
Torex Gold Provides Notice of Third Quarter 2018 Financial and Operational Results
October 15, 2018
Torex Gold Resources Announces the Transition of Chief Operating Officer With the Appointment of Jody Kuzenko
October 03, 2018
Torex Gold Resources: Record Production of +100,000 Gold Ounces for the Third Quarter of 2018
September 04, 2018
Technical Report Confirms Torex Status as a Producer in the Lowest Cost Quartile
August 09, 2018
Torex Gold Resources Rebounds From Blockade with Excellent Q2 2018 Results and Near Record Gold Production
July 31, 2018
Torex Gold Provides Notice of Second Quarter 2018 Financial and Operational Results
LOAD MORE NEWS
LOAD MORE NEWS

Great Bear Resources

Great Bear Resources

Great Bear Resources is a Canadian exploration company focused on advancing precious metals projects in one of the world’s premier mining jurisdictions, Red Lake, Ontario. 100% ownership and no royalties on 13,000 hectares in a tightly held company. At the Dixie Project, gold mineralization is confirmed along a 2.3 km strike of a 10 km target. The system has a high-grade gold zone that includes recent intervals of 16.35 m of 26.91 g/t gold and 7.00 m of 68.76 g/t gold, open along strike and at depth... VIEW PROFILE

© 2019 Junior Mining Network. All Rights Reserved.

  • Privacy Policy
  • Disclaimer
  • RSS
  • Contact