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Goldstorm Metals Announces Closing of Upsized Non-Brokered Private Placement Financing for Approximately $2.1 Million, with Participation by Eric Sprott
Vancouver, British Columbia--(Newsfile Corp. - June 27, 2025) - Goldstorm Metals Corp . (TSXV: ...
About this update from Goldstorm Metals Corp.
[{"type":"text","content":"Goldstorm Metals Announces Closing of Upsized Non-Brokered Private Placement Financing for Approximately $2.1 Million, with Participation by Eric SprottVancouver, British Columbia--(Newsfile Corp. - June 27, 2025) - Goldstorm Metals Corp. (TSXV: GSTM) (FSE: B2U) (\"Goldstorm\" or the \"Company\") is pleased to announce the closing of the Company's previously announced non-brokered private placement (the \"Offering\") for gross proceeds of $2,088,973.75 through the issuance of: (i) 15,441,483 non-flow-through units of the Company (the \"NFT Units\") sold at a price of $0.07 per NFT Unit for gross proceeds of $1,080,903.81, and (ii) 9,999,999 flow-through units of the Company (the \"FT Units\") sold at a price of $0.1008 per FT Unit for gross proceeds of 1,007,999.90. Each NFT Unit consists of one non-flow-through common share of the Company (a \"Common Share\") and one-half of one Common Share purchase warrant (each whole warrant, a \"Warrant\"). Each FT Unit consists of one common share of the Company and one-half of one Warrant, each of which qualifies as a \"flow-through share\" within the meaning of the Income Tax Act (Canada) (the \"Tax Act\"). Each Warrant shall entitle the holder thereof to purchase one Common Share at an exercise price of $0.10 for a period of 24 months from the closing date of the Offering, provided that if the closing price of the Common Shares on any Canadian stock exchange on which the Common Shares are then listed is at a price equal to or greater than $0.20 for a period of ten (10) consecutive trading days, the Company will have the right to accelerate the expiry date of the Warrants.Mr. Eric Sprott, through 2176423 Ontario Ltd., a corporation beneficially owned by him, acquired 3,571,428 Common Shares and 1,785,714 Warrants pursuant to the Offering as a strategic investor. Mr. Sprott is an insider of the Company, and as such, his participation in the private placement is a related-party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions. The Company is relying on exemptions from the minority shareholder approval and formal valuation requirements applicable to related-party transactions under sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101, as neither the fair market value of the shares to be purchased on behalf of Mr. Sprott ...