Business
Silver Storm Closes First Tranche of Brokered Life Financing for Gross Proceeds of $10,541,050, Including Investment by Eric Sprott
/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNI...
About this update from Silver Storm Mining Ltd.
[{"type":"text","content":"Silver Storm Closes First Tranche of Brokered Life Financing for Gross Proceeds of $10,541,050, Including Investment by Eric Sprott\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n \n\n\n\n\n /THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES/\n \n\n\n\n\n Silver Storm Mining Ltd. (“\n \n Silver Storm\n \n ” or the \"\n \n Company\n \n \") (TSX.V: SVRS | FSE: SVR), is pleased to announce that it has closed the first tranche (the “\n \n First Tranche\n \n ”) of its previously announced best efforts brokered private placement for total gross proceeds of $10,541,050 (the “\n \n Offering\n \n ”), which includes the partial exercise of the agents’ option. Under the Offering, the Company sold 81,085,000 units of the Company (each, a “\n \n Unit\n \n ”) at a price of $0.13 per Unit (the “\n \n Offering Price\n \n ”). Red Cloud Securities Inc. is acting as lead agent and bookrunner for the Offering and Ventum Financial Corp. is acting as co-agent (collectively, the “\n \n Agents\n \n ”). The Offering was originally announced on June 20, 2025, and subsequently updated on June 29, 2025, and June 30, 2025.\n \n\n The First Tranche included a $1,001,000 investment from current significant shareholder by Eric Sprott, through 2176423 Ontario Ltd., a corporation which is beneficially owned by him.\n \n\n Each Unit consists of one common share of the Company (each, a “\n \n Unit Share\n \n ”) and one common share purchase warrant (each a “\n \n Warrant\n \n ”). Each Warrant entitles the holder to purchase one common share (each, a “\n \n Warrant Share\n \n ”) at a price of $0.20 at any time on or before that date which is thirty-six (36) months from the date of issuance.\n \n\n The Units were issued to Canadian purchasers pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions (“\n \n NI 45-106\n \n ”) and in reliance on the Coordinated Blanker Order 45-935 –\n \n Exemptions From Certain Conditions of the Listed Issuer Financing Exemption\n \n (the “\n \n Listed Issuer Financing Exemption\n \n ”). The Unit Shares and Warrant Shares und...