VANCOUVER, BC / ACCESS Newswire / July 27, 2026 / Storm Exploration Inc. (TSXV:STRM) ("Storm" or the "Company") is pleased to announce that it has closed the non-brokered private placement (the "Offering") previously announced on July 2nd, 2026.
Highlights
Gross Proceeds: $2,953,724, including $1,543,524 in charity flow-through raised at a 45% premium
Securities Issued: 7,070,571 shares and 3,821,501 warrants, including 286,216 finder warrants
Proceeds from the Offering will, in part, be used to finance drilling at the Company's 100% owned Gold Standard Project located approximately 60km north of Fort Frances in northwestern Ontario, Canada.
Storm is exploring a large VMS target at Gold Standard that is characterized by a strong, 5km-long conductivity anomaly that is coincident with four shallow holes drilled by Inco in 1969 and 1970, all of which intersected copper and zinc sulphide mineralization (see Figure 1). A detailed description of the Gold Standard Project was provided in a news release issued by the Company on May 27th, 2026.
Details of the Offering
The Offering raised gross proceeds of $2,953,724 with the sale of the following:
4,029,143 non flow-through units (the "Units") at a price of $0.35 per Unit. Each Unit consists of one (1) non flow-through common share of the Company (a "Share") and one-half (1/2) of a common share purchase warrant (each whole share purchase warrant, a "Warrant"). Each Warrant entitles the holder to acquire one (1) additional common share at a price of $0.50 per share until July 24, 2028; and
3,041,428 charity flow-through units (the "CFT Units") at a price of $0.5075 per CFT Unit. Each CFT Unit consists of one (1) flow-through share (a "FT Share") and one-half (1/2) of a Warrant.
(collectively, the Units and the CFT Units are the "Offered Securities")
In connection with the sale of the Offered Securities, Storm paid a total of $62,171 in cash to arm's length finders (each, a "Finder"). Storm also issued a total of 286,216 non-transferable share purchase warrants to eligible Finders, on the same terms as the Warrants, all in accordance with the policies of the TSX Venture Exchange ("TSXV").
All securities issued are subject to a four-month and one day hold period expiring on November 25, 2026.
The gross proceeds from the sale of the CFT Units will be used by Storm to incur eligible "Canadian exploration expenses" ("CEE"), which qualify as "flow-through critical mineral mining expenditures" under the Income Tax Act (Canada), and to renounce such qualifying expenditures to the purchasers of the CFT Units with an effective date of no later than December 31, 2026, in an aggregate amount not less than the gross proceeds raised from the issuance of the CFT Units. The net proceeds from the sale of the Units will be used to advance Storm's gold and base metal properties in northern Ontario and for general working capital purposes.
Two insiders of Storm participated in the Offering and such subscriptions are a related party transaction for the purposes of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"), but Storm is relying on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that the fair market value of the subscription, insofar as it involves the insiders of Storm, does not exceed 25% of the market capitalization of Storm, as determined in accordance with MI 61-101.
For additional information with regards to the Offering, please refer to Storm's news release dated July 2, 2026, available for viewing on Storm's SEDAR+ profile (www.sedarplus.ca).
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities issuable pursuant to the Offering have not been, and will not be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons, absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.
About Storm Exploration Inc.
Storm Exploration is a Canadian mineral exploration company focused on the discovery and development of economic precious and base metal deposits on three district-scale projects in northwest Ontario: Keezhik, Attwood and Gold Standard.
For further information, please contact:
Storm Exploration Inc.
T: +1 (604) 506-2804
E: bcounts@stormex.ca
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: Forward looking statements in this press release but are not limited to, statements with respect to the expectations of management regarding the Offering, the expectations of management regarding the use of proceeds of the Offering, closing conditions for the Offering, and approval from the TSXV in respect of the Offering. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include the TSXV's approval of the Offering; the proceeds of the Offering may not be used as stated in this news release; Storm may be unable to satisfy all of the conditions to the closing required by the TSXV. Storm does not undertake to update any forward-looking statements or information except as may be required by applicable securities laws.
Not for distribution to United States newswire services or for dissemination in the United States.
SOURCE: Storm Exploration Inc.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/metals-and-mining/storm-announces-closing-of-oversubscribed-2.95m-private-placement-1197241
