Silver Storm Mining Ltd. announced that it expects to receive CAD 6.006 million in funding

Published: 2025-05-21 16:54:02 ET SVRS.V

Published on 05/21/2025 at 16:54

Silver Storm Mining Ltd. announced that it has entered into an agreement with Red Cloud Securities Inc. in connection with a best-efforts private placement to issue 46,200,000 units at an issue price of CAD 0.13 per unit for gross proceeds of CAD 6,006,000 on May 21, 2025. Each unit will consist of one common share of the company and one common share purchase warrant. Each warrant shall entitle the holder to purchase one common share at a price of CAD 0.20 at any time on or before that date which is thirty-six (36) months after the closing date.

The company has granted to the agent an option, exercisable in full or in part, up to 48 hours prior to the closing date, to sell up to an additional 15,400,000 units at the offering price to raise up to an additional proceeds of CAD 2,002,000. The offering is scheduled to close on or about June 5, 2025. Completion of the offering is subject to certain conditions including, but not limited to the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

The agent shall receive a cash commission equal to 6% of the gross proceeds of the offering and broker warrants equal to 6% of the number of units sold pursuant to the offering, other than from proceeds received from sales to certain president?s list purchasers identified by the company, for which a 2% cash commission and 2% broker warrants will be payable. Each broker warrant is exercisable into one common share of the company at the offering price for a period of thirty-six (36) months following the completion of the offering.