Goldstorm Metals Announces Closing of $7,000,000 LIFE Offering

Goldstorm Metals Corp. announced on April 30, 2026, the closing of a non-brokered private placement (LIFE Offering) raising aggregate gross proceeds of $7,000,000. This represents an upsizing from the initial $4,000,000 target announced on April 9, 2026, and the subsequent $7,000,000 cap confirmed on April 15, 2026. The offering consisted of three unit types: HD Units at $0.20, Flow-Through (FT) Units at $0.24, and Charity FT Units at $0.31. Each unit includes one common share and one-half of one common share purchase warrant with an exercise price of $0.30 for 36 months. Proceeds are allocated to Canadian exploration expenses (via FT units) and general working capital (via HD units). A related party purchased 100,020 HD Units. Finder fees included cash commissions of $285,355 and finder warrants.

The news is categorized as Routine - Positive because the closing was a direct follow-up to announcements made earlier in April (April 9 and April 15). The market had already priced in the expectation of this financing to fund the Phase 1 drill program announced on April 8, 2026. While securing $7M is operationally positive as it ensures capital for exploration without immediate liquidity risk, the impact is muted by significant dilution. Approximately 27.34 million new shares were issued (5.99M HD + 11.67M FT + 9.68M Charity), representing a ~24% increase to the pre-financing share count of ~114.9 million. The unit pricing ($0.20-$0.31) was slightly above or at the recent trading price ($0.19 on closing date), which mitigates some dilution impact compared to a deep discount offering, but the warrant overhang remains substantial with 36-month expiry and $0.30 strike prices.

Goldstorm Metals Corp. is an exploration-stage company focused on the Golden Triangle of British Columbia. Its flagship asset is the Crown Property (16,000 ha), which includes the Orion Zone, Copernicus Zone, Delta Zone, and Fairweather Zone. The property is strategically located adjacent to Seabridge Gold’s KSM project and Newmont’s Brucejack mine. The company also holds the Electrum Project within the same land package. The exploration strategy targets large porphyry systems and high-grade veins analogous to regional deposits like Treaty Creek and Valley of the Kings.