Storm Exploration Finalizes Debt Settlement

On May 16, 2025, Storm Exploration Inc. (TSXV:STRM) announced the completion of a debt settlement totaling $351,987. This included accrued management fees owed to an entity controlled by a director and officer, and to an officer of the company. As part of the settlement, Storm Exploration issued 7,039,742 common shares at a price of $0.05 per share. These shares are subject to a statutory hold period of four months and one day from issuance as per securities legislation.

The settlement included transactions with insider creditors amounting to $81,500. These are related party transactions under Multilateral Instrument 61-101. However, the company availed exemptions from certain valuation and minority approval requirements since the shares are not listed on designated markets, and the settlement was less than $2.5 million.