Silver Storm Announces CFO Transition, Amendments to Previously Completed Private Placement and Corporate Update
NEWS RELEASE
SILVER STORM ANNOUNCES CFO TRANSITION, AMENDMENTS TO
PREVIOUSLY COMPLETED PRIVATE PLACEMENT AND CORPORATE UPDATE
Toronto, Ontario, November 24, 2024: Silver Storm Mining Ltd. (“Silver Storm” or the "Company")
(TSX.V: SVRS | OTC: SVRSF | FSE: SVR) announces the Company’s transition and succession plan
for the role of Chief Financial Officer (“CFO”). Mr. Carmelo Marrelli, the Company's current CFO, will
be stepping down from his position once a suitable successor is appointed. To ensure a smooth
transition, the Company has commenced the search for a new CFO, however Mr. Marrelli will remain
available as needed to facilitate a seamless transition of responsibilities to his successor.
“Carmelo has been a valuable member of our team, providing financial expertise over many years
helping the Company transition from explorer through the acquisition of La Parrilla. " said Greg
McKenzie, President and CEO. “On behalf of the Board of Directors, shareholders, and the entire
team, I want to extend our heartfelt thanks to Carmelo for his years of commitment.”
Private Placement Amendments
The Company announces amendments to its previously completed private placement offering (the
“Offering”) as described in the Company’s news releases dated March 6, 2023, March 30, 2023,
April 14, 2023, May 30, 2023, and August 14, 2023.
The total number of common shares of the Company issued pursuant to the Offering totaled
35,392,610, rather than the previously stated amount of 35,317,610. The number of common
share purchase warrants issued totaled 17,696,305, versus the previously stated amount of
17,658,805.
Cash finders’ fees paid pursuant to the Offering totaled $124,990 rather than the $133,990
previously stated. The number of finders’ warrants issued totaled 620,700 as opposed to the
previously stated amount of 670,950. As such, Red Cloud Securities Inc. received $2,100 cash
finder’s fees and 10,500 finder’s warrants, and Canaccord Genuity Corp. received 242,700
finder’s warrants.
Agreement with Epstein Research
The Company has entered into a n advertisement services agreement with Peter Epstein
(“Epstein Research”) on September 6, 2024, to increase investor engagement and create more
awareness for the Company, starting on October 1, 2024. Epstein Research’s engagement is for
an initial term of six (6) months and is subject to renewal or cancellation in accordance with its
terms (the “ Term”). Epstein Research operates from New York, New York, and provides
promotional services, including social media and online advertising of the Company posted on
Epstein Research homepage, CEO.ca, Substack, and Linked -In; monthly written articles on the
Company and/or CEO interviews written exclusively by Peter Epstein; and frequent online
commentary on the Company on websites including CEO.ca, Stockhouse, TalkMarkets, LinkedIn,
Twitter/X, Yahoo Finance, Facebook, StockTwits.
The Company has paid Epstein Research an amount of US$10,000 for the Term for these
services. There are no common shares or options to be received as compensation in the service
agreement. In addition, Epstein Research is an unrelated and unaffiliated entity in respect of the
Corporation and, at the time of the agreement, Mr. Epstein owns securities of the Company
purchased on the open market.
The Company has previously convened a three-month trial with Mr. Epstein from April 1, 2024 to
June 30, 2024 for the same services mentioned above for a total amount of US$5,000.
About Silver Storm Mining Ltd.
Silver Storm Mining Ltd. holds advanced-stage silver projects located in Durango, Mexico. Silver Storm
recently completed the acquisition of 100% of the La Parrilla Silver Mine Complex, a prolific operation
which is comprised of a 2,000 tpd mill as well as five underground mines and an open pit that
collectively produced 34.3 million silver -equivalent ounces between 2005 and 2019. The Company
also holds a 100% interest in the San Diego Project, which is among the largest undeveloped silver
assets in Mexico. For more information regarding the Company and its projects, please visit our
website at www.silverstorm.ca.
For additional information, please contact:
Greg McKenzie, President & CEO
Ph: +1 (416) 504-2024
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the
TSXV) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward Looking Statements:
Certain statements in this news release are forward -looking and involve a number of risks and
uncertainties. Such forward-looking statements are within the meaning of the phrase ‘forward-looking
information’ in the Canadian Securities Administrators’ Natio nal Instrument 51 -102 – Continuous
Disclosure Obligations. Forward -looking statements are not comprised of historical facts. Forward -
looking statements include estimates and statements that describe the Company’s future plans,
objectives or goals, including words to the effect that the Company or management expects a stated
condition or result to occur. Forward-looking statements may be identified by such terms as “believes”,
“anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking
statements are based on assumptions and address future events and conditions, by their very nature
they involve inherent risks and uncertainties. Although these statements are based on information
currently available to the Company, the Company provides no assurance that actual results will meet
management’s expectations. Risks, uncertainties and other factors involved with forward -looking
information could cause actual events, results, performance, prospects and opportunities to diff er
materially from those expressed or implied by such forward -looking information. Forward -looking
information in this news release includes, but is not limited to, the appointment of a new Chief Financial
Officer.
In making the forward -looking statements included in this news release, the Company has applied
several material assumptions, including that the Company´s financial condition and development plans
do not change because of unforeseen events. Forward-looking statements and information are subject
to various known and unknown risks and uncertainties, many of which are beyond the ability of the
Company to control or predict, that may cause the Company’s actual results, performance or
achievements to be materially different from those expressed or implied thereby, and are developed
based on assumptions about such risks, uncertainties and other factors set out herein, including, but
not limited to, the risk that the Company is unable to achieve its goal of placing La Parrilla back into
production; market conditions and volatility and global economic conditions including increased
volatility and potentially negative capital raising conditions resulting from the continued or escalation
of the COVID -19 pandemic, risk of delay and/or cessation in planned work or changes in the
Company’s financial condition and development plans employee relations; relationships with and
claims by local communities and indigenous populations; availability and increasing costs associated
with mining inputs and labour, the speculative nature of mineral exploration and development,
including the risks of obt aining necessary licenses and permits and the presence of laws and
regulations that may impose restrictions on mining, including the Mexican mining reforms; risks relating
to environmental regulation and liability; the possibility that results will not be consistent with the
Company’s expectations; risks relating to completion of the annual audit in a timely manner.
Such forward-looking information represents best judgment based on information currently available.
No forward -looking statement can be guaranteed, and actual future results may vary materially.
Accordingly, readers are advised not to place undue reliance on forward -looking statements or
information.