Silver Storm Upsizes Private Placement Offering FOR up to $3.5 Million Including Investment BY Significant Shareholder First Majestic Silver
NEWS RELEASE
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR
DISSEMINATION IN THE UNITED STATES
SILVER STORM UPSIZES PRIVATE PLACEMENT OFFERING
FOR UP TO $3.5 MILLION INCLUDING INVESTMENT BY
SIGNIFICANT SHAREHOLDER FIRST MAJESTIC SILVER
Toronto, Ontario, January 23, 2025: Silver Storm Mining Ltd. (“ Silver Storm” or the " Company")
(TSX.V: SVRS | FSE: SVR) , is pleased to announce that it is increasing the size of the previously
announced non-brokered private placement offering (the “Offering”) of units of the Company (each, a
“Unit”) for gross proceeds of up to $3,500,000.01 at a price of $0.09 per Unit subject to approval from
the TSX Venture Exchange (the “TSXV”). The Offering will include an investment of $1.5 million from
current significant shareholder First Majestic Silver Corp. (“FM”). See previous news releases dated
December 5, 2024, December 19, 2024, January 6, 2025, January 9, 2025, and January 16, 2025, for
further details of the Offering. To date under the Offering, the Company has raised gross proceeds of
$1,290,420.
Each Unit consists of one common share of the Company (a " Common Share") and one common
share purchase warrant (each whole warrant, a " Warrant"). Each Warrant shall be exercisable to
acquire one (1) additional Common Share at an exercise price of $0.16 until thirty -six (36) months
from the date of issuance (the “Expiry Date”).
In connection with the Offering, the Company may pay certain eligible arm’s length parties who
introduce subscribers to the Offering (each, a “Finder”): up to 7% cash fees, and (2) up to 7% finders’
warrants (“Finders’ Warrants”). Each Finder’s Warrant entitles the holder to purchase one Common
Share at a price of $0.16 for a period of thirty-six (36) months.
FM has committed to subscribe for 16,666,666 Units in the Offering for an aggregate purchase price
of $1,499,999.94. The participation of FM will be considered a related party transaction within the
meaning of Multilateral Instrument 61 -101 – Protection of Minority Security Holders in Special
Transactions (“MI 61 -101”). The Private Placement will be exempt from the formal valuation and
minority shareholder approval requirements of MI 61 -101 as neither the fair market value of the
securities issued to related parties nor the consideration for such securities will excee d 25% of the
Company’s market capitalization.
The Offering has received conditional approval from the TSX V, and is subject to all regulatory
approvals, including final approval of the TSX V. The Units are being offered by way of private
placement pursuant to exemptions from prospectus requirements under applicable securities laws.
The securities issued and issuable pursuant to the Offering will be subject to a four month and one
day hold period from the date of issuance. The Warrants and Finders’ Warrants will not be listed for
trading. The Company intends to use the net proceeds from the Offering to complete its upcoming NI
43-101 resource statement and for general corporate and working capital purposes.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended,
or applicable state securities laws, and may not be offered or sold to persons in the United States
absent registration or an exemption from such registration requirements. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities
in any jurisdiction in which such offer, solicitation or sale would be unlawful.
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’ National 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 and Qualified
Persons (in the case of technical and scientific information) 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 assump tions 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 Com pany 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 differ
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 intended use of proceeds of the
Offering, the closing conditions of the Offering, receipt of final TSXV approval of the Offering and the
timing and completion of an updated technical report for La Parrilla Complex.
In making the forward-looking statements included in this news release, the Company have applied
several material assumptions, including that the Offering will close on the anticipated terms or at all;
that the Units will have the anticipated terms; that the Company will use the net proceeds of the
Offering as anticipated ; that the Company will receive all necessary approvals in respect of the
Offering, the Company´s financial condition and development plans do not change because of
unforeseen events, and management’s ability to execute its business strategy and no unexpected or
adverse regulatory changes with respect to La Parrilla . 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.
Such forward-looking information represents managements and Qualified Persons (in the case of
technical and scientific information) 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.