Business
Silver Storm Upsizes Non-Brokered Life Financing for Gross Proceeds of Up to C$4.0 Million
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About this update from Silver Storm Mining Ltd.
[{"type":"text","content":"Silver Storm Upsizes Non-Brokered Life Financing for Gross Proceeds of Up to C$4.0 Million\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 as a result of strong investor demand, Company has decided to increase the size of the previously announced non-brokered private placement (the “\n \n Offering\n \n ”) from gross proceeds of up to C$2,600,000 to gross proceeds of up to C$4,004,000. The upsized Offering is comprised of the sale of up to 30,800,000 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 ”). The Offering was originally announced on June 23, 2025.\n \n\n Each Unit will consist 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 shall entitle the holder to purchase one common share (each, a “\n \n Warrant Share\n \n ”) at a price of C$0.20 at any time on or before that date which is thirty-six (36) months after the date of issuance.\n \n\n The Company intends to use the net proceeds from the Offering for: (i) the procurement of mine processing flotation cells; (ii) to commence rehabilitation work of the La Parrilla processing facility including equipment purchase and refurbishment, labour and supplies; (iii) to order long lead items including deposits on mining equipment and ventilation fans; (iv) to fund ongoing operations for the next twelve months; and (v) for general corporate and working capital purposes.\n \n\n Subject to compliance with applicable regulatory requirements and in accordance with Part 5A of National Instrument 45-106 –\n \n Prospectus Exemptions\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 Units will be offered for sale to purchasers resident in the provinces of Albert...