Goldstorm Metals Announces Skeena Resources Participation in Recent Private Placement and Reports on Its 2022 Reconnaissance Program Conducted at the Crown Property, Golden Triangle B.C.
Goldstorm Metals Announces Skeena
Resources Participation in Recent Private
Placement and Reports on Its 2022
Reconnaissance Program Conducted at the
Crown Property, Golden Triangle B.C.
Vancouver, British Columbia--(Newsfile Corp. - November 17, 2022) -
Goldstorm Metals Corp.
(TSXV:
GSTM
) ("
Goldstorm
" or the "
Company
") is pleased to report that Skeena Resources Limited
("Skeena") recently participated in the Company's non-brokered private placement totaling $3.9 million
which closed on October 28
th
, 2022 (the "
Financing
").
Skeena acquired 6,352,898 units of Goldstorm at $0.26 per unit for $1,652,000, representing
approximately 9.9% of Goldstorm's total issued and outstanding shares.
Pursuant to a letter agreement
executed in connection with the Financing, Skeena has the right to participate in the Company's future
financings to such an extent as is necessary to maintain its pro rata ownership interest in Goldstorm, so
long as Skeena continues to hold at least five percent (5%) of Goldstorm's issued and outstanding
shares on a partially diluted basis assuming the conversion of any securities convertible into common
shares of the Company issued in connection with the applicable financing.
Ken Konkin, President & CEO of Goldstorm stated
, "This significant equity investment by Skeena,
one of the Golden Triangle's most successful gold project development companies, is a strong
endorsement of Goldstorm's Crown Project. Despite the recent turbulence in the financial markets, this is
a very exciting time for the Company as we set out to advance these strategic concessions which are
located near Seabridge's KSM porphyry deposits and Newcrest's Brucejack high-grade gold mine."
2022 Exploration Review and Corporate Mandate
During 2022, geological field crews completed extensive mapping and sampling programs of the 100%
owned Electrum and Crown Properties. The focus of the reconnaissance program was to identify
multiple drill targets for future exploration programs. Geologists are expected to complete a compilation
study this winter once all assay results are received. The goal is to identify and drill-test the most
prospective geological targets that host precious and base-metal mineralization. Goldstorm's mandate
is to fast-track exploration on numerous properties throughout the Golden Triangle geological belt. The
Company looks forward to reviewing projects that have the potential to host large precious and base
metal targets.
About Goldstorm Metals
Goldstorm Metals Corp. is a new precious and base metals exploration company with a large strategic
land position in the Golden Triangle of British Columbia, an area that hosts some of the largest and
highest-grade gold deposits in the world. Goldstorm's flagship Crown Project covers approximately a
total of 16,469 hectares; situated directly south of Seabridge's KSM gold-copper deposits and Newcrest
Gold's Brucejack/Valley of the Kings gold mine.
ON BEHALF OF THE BOARD OF DIRECTORS OF
GOLDSTORM METALS CORP.
"
Ken Konkin
"
Ken Konkin
President and Chief Executive Officer
For further information, please visit the Company's website at
https://goldstormmetals.com/
or
contact:
Chris Curran
Head of Corporate Development and Communications
Phone: (604) 559 8092
E-Mail:
or
Carsten Ringler
Head of Investor Relations and Communications
Phone:
+49 151 55362000
E-Mail:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this release.
Cautionary Statement Regarding Forward Looking Statements
This release includes certain statements and information that may constitute forward-looking
information within the meaning of applicable Canadian securities laws. All statements in this news
release, other than statements of historical facts, including statements regarding future estimates,
plans, objectives, timing, assumptions or expectations of future performance, including without
limitation, the statement regarding the expectation geologists are expected to complete a compilation
study this winter once all assay results are received. Such statement is forward-looking statements
and contains forward-looking information.
Generally, forward-looking statements and information can be identified by the use of forward-looking
terminology such as "intends" or "anticipates", or variations of such words and phrases or statements
that certain actions, events or results "may", "could", "should", "would" or "occur". Forward-looking
statements are based on certain material assumptions and analysis made by Goldstorm and the
opinions and estimates of management as of the date of this press release, including that geologists
will complete a compilation study this winter once all assay results are received.
These forward-looking statements are subject to known and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity, performance or achievements of Goldstorm
to be materially different from those expressed or implied by such forward-looking statements or
forward-looking information. Important factors that may cause actual results to vary, include, without
limitation that geologists will not complete a compilation study this winter or at all.
Although management of Goldstorm has attempted to identify important factors that could cause
actual results to differ materially from those contained in forward-looking statements or forward-looking
information, there may be other factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove to be accurate, as actual results
and future events could differ materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking statements and forward-looking
information. Readers are cautioned that reliance on such information may not be appropriate for other
purposes. Goldstorm does not undertake to update any forward-looking statement, forward-looking
information or financial out-look that are incorporated by reference herein, except in accordance with
applicable securities laws.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/144604