Silver Storm closes $13.76-million bought deal

Executive Summary

• Silver Storm Mining Ltd. closed a bought‑deal private placement raising $13,766,250 in gross proceeds.
• The offering sold 55,065,000 units at C$0.25 per unit, each unit comprising one common share and half of a warrant.
• Net proceeds will be used to restart the La Parrilla silver mine complex in Durango, Mexico, and for general corporate purposes and working capital.

Key Details

• Units sold: 55,065,000 (51,200,000 LIFE units to Canadian investors; 3,865,000 non‑LIFE units to accredited/US/international investors).
• Pricing: C$0.25 per unit (≈ US$0.25).
• Gross proceeds: $13,766,250, inclusive of the underwriter’s overallotment option exercise.
• Underwriter: Red Cloud Securities Inc., acting as sole underwriter and bookrunner.
• Warrant terms: Each whole warrant allows purchase of one common share at C$0.35 on or before Sept 22 2028.
• Broker compensation: Cash fees of $824,475 plus 3,297,900 non‑transferable broker warrants (exercisable into common shares at the offering price, same expiry as above).
• Liquidity & use of proceeds: Sufficient liquidity achieved; funds earmarked for La Parrilla mine restart, general corporate purposes, and working capital.
• Regulatory notes:
• LIFE units sold under NI 45‑106 listed issuer financing exemption; expected to be freely tradeable immediately in Canada.
• Non‑LIFE units subject to statutory hold period until Jan 23 2026 (except where permitted).
• Closing pending final TSX‑V approval.

Notable Quotes

No direct quotes were provided in the release.