Storm Announces Terms for a Non-Brokered Private Placement
40638.164008.NNH1.26013094.3
News Release
September 16, 2024
TSX-V: STRM
Storm Announces Terms for a Non-Brokered Private Placement
Vancouver, B.C., September 16, 2024 – Storm Exploration Inc. (TSX-V: STRM) (the “Company”)
today announced that it will conduct a non-brokered private placement (the “Offering”), subject to
the approval of the TSX Venture Exchange (the “Exchange”), for aggregate gross proceeds of up
to $1,600,000.
The Offering will consist of units (the “Units”) at a price of $0.05 per Unit, and flow-through units
(the “FT Units”) at a price of $0.06 per FT Unit. Each Unit will consist of one common share of the
Company and one warrant (a “Unit Warrant”) entitling the holder thereof to acquire an additional
common share (the “Warrant Share”) of the Company at an exercise price of $0.10 per Warrant
Share for a period of 24 months from the date of issuance. The FT Units will consist of one flow-
through common share of the Company and one warrant (a “FT Unit Warrant”) entitling the holder
thereof to acquire a (non-flow through) common share (the “Warrant Share”) of the Company at
an exercise price of $0.12 per Warrant Share for a period of 24 months from the date of issuance.
The Offering is not subject to a minimum amount and the maximum gross proceeds of the
Offering is $1,600,000. Under the Offering, a maximum of 20,000,000 common shares of the
Company and 20,000,000 Unit Warrants will be issuable under the Units, and a maximum of
10,000,000 flow-through shares and 10,000,000 FT Unit Warrants will be issuable under the FT
Units. The gross proceeds of the Offering will be used to advance the Company’s gold and base
metal properties in northern Ontario and for general working capital purposes. If the Offering is
over-subscribed, subscriptions will be accepted at the discretion of the Company and subject to
the approval of the Exchange; therefore, it is possible that a subscriber's subscription may not be
accepted by the Company even though it is received within the Offering period unless the
Company determines to increase the size of the Offering.
The Offering will be conducted pursuant to available prospectus exemptions including sales to
accredited investors, family members, close friends and business associates of directors and
officers of the Company, to purchasers who have obtained suitability advice from a registered
investment dealer pursuant to the exemption set out in BC Instrument 45-536 (the "Investment
Dealer Exemption") and to existing shareholders of the Company pursuant to the exemption set
out in British Columbia Securities Commission BC Instrument 45-534 (the "Existing Shareholder
Exemption").
The Existing Shareholder Exemption is available to shareholders residing in all Canadian
jurisdictions. Shareholders of record of the Company as at September 6, 2024 (the "Record
Date") are eligible to participate under the Existing Shareholder Exemption. To rely upon the
Existing Shareholder Exemption, the subscriber must: a) have been a shareholder of the Company
on the Record Date and continue to hold shares of the Company until the date of closing of the
Offering, b) be purchasing the Units or FT Units as a principal, and c) either may not subscribe for
more than $15,000 of securities from the Company in any 12 month period or have received
advice from a registered investment dealer regarding the suitability of the investment. Existing
shareholders interested in participating in the Offering should consult their investment advisor or
the Company directly.
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The Offering may be closed in one or more tranches as subscriptions are received.
All securities issued pursuant to the Offering will be subject to statutory hold periods in
accordance with applicable United States and Canadian securities laws.
The securities offered have not been registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold
absent registration or compliance with an applicable exemption from the registration requirements
of the U.S. Securities Act and applicable state securities laws.
The Company anticipates that current insiders of the Company may participate in the Offering.
Subject to Exchange approval, finder’s fees may be paid to persons who introduce the Company
to investors. As required by the Investment Dealer Exemption, the Company confirms that there
are no material facts or material changes that have not been disclosed.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy
or accuracy of this release.
About Storm Exploration Inc.
Storm Exploration Inc. is a Canadian mineral exploration company focused on the discovery and
development of economic precious and base metal deposits on four district-scale projects in
northwest Ontario: Miminiska, Keezhik, Attwood and Gold Standard.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy
or accuracy of this release.
FORWARD LOOKING INFORMATION
This news release includes certain information that may constitute “forward-looking information”
under applicable Canadian securities legislation. Forward-looking information includes, but is not
limited to, completion of the Offering. Forward-looking information is necessarily based upon a
number of estimates and assumptions that, while considered reasonable, are subject to known
and unknown risks, uncertainties, and other factors which may cause the actual results and future
events to differ materially from those expressed or implied by such forward-looking information,
including the approval of the TSX Venture Exchange of the Offering, the allocation of Units and FT
Units in the Offering, and the ability of the Company to locate suitable purchasers for the Offering.
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. Accordingly,
readers should not place undue reliance on forward-looking information. All forward-looking
information contained in this press release is given as of the date hereof and is based upon the
opinions and estimates of management and information available to management as at the date
hereof. The Company disclaims any intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events or otherwise, except as
required by law.
For further information, please contact:
Storm Exploration Inc.
+1 (604) 506-2804