Silver Storm Mining Announces $7.5 Million Private Placement with Eric Sprott

Silver Storm Mining Ltd. has announced a $7.5 million non-brokered private placement involving 15 million units priced at $0.50 each. The entire sum is being subscribed by Eric Sprott through 2176423 Ontario Ltd., a strategic shareholder in the company.

Each unit comprises one common share and a half warrant, with each warrant priced at $0.70, set to expire in 18 months from the offering's closure. No commissions or fees are attached, with proceeds intended for drilling programs and general corporate purposes.

Under the investment exemption NI 45-106, regulatory approvals are awaited, and closure is expected by August 25, 2026. The issuance will face a four-month holding period. Sprott's participation, classified as a "related party transaction" under MI 61-101, utilizes certain exemptions.