Dear shareholder,

Thank you for your inquiry. The financing placed 2,193,000 Units at a price of $0.21 per Unit for gross proceeds of $460,530. Canaccord Capital Corporation acted as the agent in connection with the financing. The proceeds of the Offering will be used as working capital to fund the continued work program on the mineral properties held by Torch.

Each Unit consists of one common share in the capital of the Corporation issued on a flow through basis and one half of one common share purchase warrant. Each Warrant entitles the holder to purchase one Common Share of the Corporation at an exercise price of $0.30 for a period of twenty four months from the closing of the Offering.

Regards,

AGORACOM Investor Relations