Silver Storm Announces Upsize of Non-Brokered Private Placement to $15.0 Million
Silver Storm upsizes its $15 million financing to fund drilling and ramp-up at its La Parrilla project.
Silver Storm Mining Ltd. has increased the size of its previously announced non-brokered private placement from 15,000,000 units to up to 30,000,000 units. The offering is priced at $0.50 per unit, raising aggregate gross proceeds of up to $15,000,000. Each unit consists of one common share and one-half of a common share purchase warrant. The warrants entitle holders to acquire one additional common share at an exercise price of $0.70 for 18 months from closing.
Net proceeds will fund surface and underground drilling programs at the La Parrilla Silver Mine Complex and general corporate/working capital purposes. Eric Sprott's participation remains unchanged from the August 21, 2026 announcement. Securities are subject to a four-month-and-one-day hold period. Closing is expected on or about August 25, 2026, subject to TSXV approval.
Silver Storm Mining Ltd. (SVRS) has increased the size of its capital raise to meet strong investor demand at the $0.50 price level, a move that also signals management’s need for more capital than initially planned to fund an aggressive 15,000-meter drilling program and operational ramp-up. The financing is dilutive, adding up to 30,000,000 new shares and 15,000,000 warrants to the capital structure.
The transaction is expected, incremental, and aligns with the company's historical pattern of raising capital to fund mine development.
Silver Storm Mining Ltd. is a Canadian mining company focused on the La Parrilla Silver Mine Complex in Durango, Mexico, and the San Diego Project. La Parrilla is a historic underground Ag-Pb-Zn-Au mine complex that was placed on care and maintenance in 2019. The company successfully restarted operations in Q2 2026, achieving its first silver-gold doré pour in June 2026 and its first concentrate shipment in July 2026. The sulphide flotation circuit has been expanded to a nameplate capacity of 1,250 tonnes per day. The company is currently executing a 15,000-meter underground drilling program to expand resources and support mine planning. The San Diego Project is an advanced exploration asset with a large inferred resource, awaiting funding for infill drilling and economic studies.