Silver Storm Closes Final Tranche of $12,012,000 Brokered LIFE Financing
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Toronto, Ontario, June 11, 2025: Silver Storm Mining Ltd. (“Silver Storm” or the "Company") (TSX.V: SVRS | FSE: SVR), is pleased to announce that it has closed the second and final tranche (the “Final Tranche”) of its previously announced best efforts brokered private placement (the “Offering”) for total gross proceeds of $1,470,950 from the sale of 11,315,000 units of the Company (each, a “Unit”) at a price of $0.13 per Unit (the “Offering Price”). In aggregate pursuant to the Offering, the Company sold 92,400,000 Units at the Offering Price for aggregate gross proceeds of C$12,012,000, which includes the full exercise of the agents’ option. Red Cloud Securities Inc. acted as lead agent and bookrunner for the Offering and Ventum Financial Corp. acted as co-agent (collectively, the “Agents”). The Offering was originally announced on May 20, 2025, and subsequently updated on May 29, 2025, May 30, 2025, and June 5, 2025.
Each Unit consists of one common share of the Company (each, a “Unit Share”) and one common share purchase warrant (each a “Warrant”). Each Warrant entitles the holder to purchase one common share (each, a “Warrant Share”) at a price of $0.20 at any time on or before that date which is thirty-six (36) months from the date of issuance.
The Units were issued to Canadian purchasers pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions (“NI 45-106”) and in reliance on the Coordinated Blanker Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the “Listed Issuer Financing Exemption”). The Unit Shares and Warrant Shares underlying the Units are not subject to any hold period under applicable Canadian securities legislation if sold to purchasers resident in Canada. The Units sold under the Offering to offshore and purchasers in the United States were sold in accordance with OSC Rule 72-503 - Distributions Outside Canada (“OSC Rule 72-503”). The Units sold to purchasers in the United States will be made on a private placement basis pursuant to one or more exemptions from registration requirements of the United States Securities Act of 1933, as amended (the “U.S. Securities Act”).
The Company intends to use the net proceeds from the Offering for: (i) the procurement of mine processing flotation cells; (ii) to commence rehabilitation work of the La Parrilla processing facility including equipment purchase and refurbishment, labour and supplies; (iii) to order long lead items including deposits on mining equipment and ventilation fans; (iv) to fund ongoing operations for the next twelve months; and (v) for general corporate and working capital purposes, all as further detailed in the amended and restated offering document related to the Offering dated May 30, 2025 that can be accessed under the Company's profile at www.sedarplus.ca and on the Company’s website at www.silverstorm.ca.
