- Capital raising commitment secured for $250,000
- Board of Directors to be reconstituted in the near future
- Torian to continue to focus on Africa as the source of future projects and opportunities to generate shareholder value
- Annual General Meeting to be held in May to approve various initiatives including the capital raising and a consolidation of capital on a 20 to 1 basis
ANNOUNCEMENT OF CONSOLIDATION and FURTHER FUNDING
The Board of Torian Resources is pleased to advise it has signed a funding agreement with a group of sophisticated investors (“Investor Group”) for a total of $250,000. The Investor Group funds will be provided via a secured loan to the company in the coming weeks, pending the approval of a share placement by the company’s shareholders at the Annual General Meeting.
Torian will seek shareholder approval for the capital raising and a consolidation of capital on a 20 to 1 basis at the company’s Annual General Meeting. The meeting is expected to be held in May and a Notice of Meeting and Explanatory Statement will be mailed to shareholders in the coming weeks.
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