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Goldstorm Metals Announces Upsizing of Previously Announced Private Placement Financing to $1.8 Million, with Participation by Eric Sprott
Vancouver, British Columbia--(Newsfile Corp. - June 9, 2025) - Goldstorm Metals Corp . (TSXV: G...
About this update from Goldstorm Metals Corp.
[{"type":"text","content":"Goldstorm Metals Announces Upsizing of Previously Announced Private Placement Financing to $1.8 Million, with Participation by Eric SprottVancouver, British Columbia--(Newsfile Corp. - June 9, 2025) - Goldstorm Metals Corp. (TSXV: GSTM) (FSE: B2U) (\"Goldstorm\" or the \"Company\") is pleased to announce that, due to strong investor demand, it intends to increase the size of the Company's previously announced non-brokered private placement of securities to up to $1,800,000 (the \"Offering\"). The Offering will consist of a combination of: (i) non-flow-through units of the Company (the \"NFT Units\") to be sold at a price of $0.07 per NFT Unit, and (ii) flow-through units of the Company (the \"Charity FT Units\") to be sold at a price of $0.1008 per Charity FT Unit. Each NFT Unit will be comprised 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 Charity FT Unit will consist of one common share of the Company and one-half of one Warrant, each which will qualify 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.The net proceeds received from the sale of the NFT Units will be used for working capital and general corporate purposes.The gross proceeds from the issue and sale of the Charity FT Units will be used to incur Canadian exploration expenses as defined in paragraph (f) of the definition of \"Canadian exploration expense\" in subsection 66.1(6) of the Tax Act that will also qualify as: (a) \"flow through mining expenditures\" as defined in subsection 127(9) of the Tax Act; and (b) \"BC flow-through mining expenditures\" as defined in subsection 4.721(1) of the Income Tax Act (British Columbia) (the \"Qualifying Expenditures\"). The Qualifying Expenditures will be incurred on or before December 31, 2026 ...