Storm Exploration Announces Private Placement for $2.57M

Storm Exploration Inc., based in Vancouver, disclosed a planned non-brokered private placement expected to generate gross proceeds up to $2,572,500. With TSX Venture Exchange's approval pending, the offering includes units priced at $0.35 and charity flow-through units at $0.5075 each. Every unit contains one common share and a half warrant, each warrant permitting the purchase of another common share at $0.50, valid for 24 months post-issuance.

The proceeds from charity flow-through units will fund eligible Canadian exploration expenses. The funds from units will support gold and base metal projects in northern Ontario and general operations. Subscriptions may be accepted based on company discretion. The offering will target accredited investors, close associates, and existing shareholders, without being subject to a minimum amount.