Storm Announces Closing of Oversubscribed $2.95M Private Placement

Storm Exploration Inc. has closed an oversubscribed non-brokered private placement, raising gross proceeds of $2,953,724. The offering issued 7,070,571 common shares and 3,821,501 common share purchase warrants. Pricing was split between standard units at $0.35 and charity flow-through units at $0.5075, representing a 45% premium. The warrants carry a $0.50 exercise price and expire on July 24, 2028.

Proceeds are earmarked primarily for drilling at the 100%-owned Gold Standard Project in northwestern Ontario, with the remainder allocated to general working capital. Securities carry a four-month and one-day hold period expiring on November 25, 2026. The transaction closes a previously announced offering from July 2, 2026, and relies on MI 61-101 exemptions for insider participation.

Storm Exploration Inc. (STRM) completed a financing that serves as a routine follow-up to its July 2 announcement. The transaction was expected and aligns with the company's stated exploration timeline. The $2.95 million injection addresses a critical liquidity gap, moving the company from a near-zero cash position of approximately $7,875 pre-financing to a functional war chest for the planned Q2/Q3 drilling program.

The deal results in a significant but standard dilution for early-stage explorers, representing a ~34% increase in shares outstanding plus ~3.8 million new warrants. The charity flow-through premium partially offsets the dilutive impact on net proceeds. While the news does not alter the fundamental exploration thesis, it provides the necessary capital to execute it.

Storm Exploration Inc. (STRM) operates three 100%-owned district-scale properties in the Miminiska-Fort Hope Greenstone Belt of northwestern Ontario: Gold Standard, Keezhik, and Attwood.

The company’s flagship project is Gold Standard, a 7,636-hectare property featuring a 5-kilometre-long, 50-100 metre wide VLF conductivity anomaly interpreted as a Volcanogenic Massive Sulphide (VMS) system. Historical context includes shallow Inco drilling from 1969-1970 that intersected Cu/Zn sulphides, alongside recent 2022 surface rock sampling that returned up to 166 g/t Au, 197 g/t Ag, and 1.47% Cu.

The Keezhik Project hosts eight drill-confirmed high-grade gold targets, with historical assays reaching up to 25.8 g/t Au over 1.3m. Meanwhile, the Attwood Project comprises 23,230 hectares of underexplored greenstone belt with base metal potential and untested EM anomalies. All projects are in early-stage exploration with limited modern drilling history.