Storm Announces Terms for a Non-Brokered Private Placement

VANCOUVER, BC / ACCESSWIRE / September 16, 2024 / Storm Exploration Inc. (TSX-V:STRM) has announced a non-brokered private placement for gross proceeds up to $1,600,000, pending TSX Venture Exchange approval.

The Offering includes units at $0.05 per Unit and flow-through units at $0.06 per FT Unit. Each Unit consists of one common share and one warrant for a common share at $0.10 per share, valid for 24 months. Each FT Unit has a flow-through share and a warrant for a non-flow-through share at $0.12 per share for 24 months.

A maximum of 20,000,000 common shares and 10,000,000 flow-through shares will be issued. Proceeds will advance the Company's projects in northern Ontario and serve general working capital purposes. The Offering utilizes prospectus exemptions, including accredited investors and family members of directors and officers.

Eligible shareholders as of September 6, 2024, may participate. Subscriptions may close in multiple tranches. All securities will follow statutory hold periods per U.S. and Canadian laws. Insiders of the Company may participate, and finder's fees may be paid, subject to Exchange approval.