Latest news with #StormExplorationInc
Yahoo
16-05-2025
- Business
- Yahoo
Storm Exploration Completes Debt Settlement
VANCOUVER, BC / / May 16, 2025 / Storm Exploration Inc. (TSXV:STRM) (the "Company") today announced that further to its news release dated April 17, 2025, it has settled an aggregate of $351,987 in outstanding debt (the "Debt Settlement") which included accrued management fees owing to a company controlled by a director and officer of the Company, and accrued management fees to an officer of the Company. In connection with the Debt Settlement, the Company issued an aggregate of 7,039,742 common shares (the "Shares") of the Company at a price of $0.05 per Share. All securities issued in connection with the Debt Settlement are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. The portion of the Debt Settlement with the insider creditors of the Company (being a total of $81,500) constitute related party transactions for the purposes of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"), but the Company is relying on the exemption from the formal valuation requirement in MI 61-101 provided under section 5.5(b) of MI 61-101 on the basis that the Company's shares are not listed on any of the specified markets listed in MI 61-101. The debt settlement with insiders are also exempt from the majority of the minority approval requirement in MI 61-101 under section 5.7(1)(b) of MI 61-101 on the basis that the fair market value of the insiders' debt settlement is less than $2.5 million and the debt settlement with insiders were approved by all of the independent directors of the Company. About Storm Exploration Inc. Storm Exploration Inc. is a Canadian mineral exploration company focused on the discovery and development of economic precious and base metal deposits on four district-scale projects in northwest Ontario: Miminiska, Keezhik, Attwood and Gold Standard. For further information, please contact: Storm Exploration Inc. +1 (604) 506-2804bcounts@ Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release. Forward Looking Information This news release may contain certain "forward looking statements". Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. SOURCE: Storm Exploration Inc. View the original press release on ACCESS Newswire Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
29-04-2025
- Business
- Associated Press
Storm Exploration: Update on Option Payment for Miminiska and Keezhik
VANCOUVER, BC / ACCESS Newswire / April 29, 2025 / Storm Exploration Inc. (TSX-V:STRM) ('Storm' or the 'Company') announced today that, further to its news release dated March 21, 2025, it has issued 2,092,686 common shares (each, a 'Share') at a deemed price of $0.033005 per Share to Landore Resources Canada Inc. (the 'Optionor') as partial payment due under the option agreement dated May 5, 2021, as amended, with the Optionor (the 'Option Agreement'). The Company will issue the remaining 6,239,385 Shares to the Optionor upon TSX Venture ('TSXV') approval of the requisite Personal Information Form from the Optionor. With the issuance of the remaining Shares, the Company will have issued an aggregate of 8,332,071 Shares to the Optionor as payment of the $275,000 cash installment due under the Option Agreement, which will result in the Optionor holding approximately 17.4% of the Company's issued and outstanding Shares as of today's date. The number of Shares issued was calculated using the 30-day VWAP in accordance with the Option Agreement and was subject to TSXV approval. All Shares issued will be subject to a voluntary pooling arrangement (see the Company's news release dated August 19, 2024), in addition to a hold period of four months and one day from the date of issuance, in accordance with the Option Agreement and the policies of the TSXV. The Option Agreement contemplates the Company's acquisition of a 100% interest in the Miminiska and Keezhik properties from the Optionor, a wholly owned subsidiary of Landore Resources Limited, subject to, amongst other things, scheduled payments. For further details with respect to the Option Agreement, please refer to the Company's news releases dated May 10, 2021, June 6, 2024, July 4, 2024, August 19, 2024 and March 21, 2025, available for viewing on the Company's profile on SEDAR+ ( ). For further information, please contact: Storm Exploration Inc. +1 (604) 506-2804 [email protected] About Storm Exploration Inc. Storm Exploration Inc. is a Canadian mineral exploration company focused on the discovery and development of economic precious and base metal deposits on four district-scale projects in northwest Ontario: Miminiska, Keezhik, Attwood and Gold Standard. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release. Forward Looking Information This news release includes certain information that may constitute 'forward-looking information' under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to: TSXV acceptance of the requisite Personal Information Form and the scheduled payments under the Option Agreement. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information, including TSXV acceptance of the requisite Personal Information Form and failure of the Company to have sufficient funds to make the scheduled payments under the Option Agreement. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law. SOURCE: Storm Exploration Inc. press release
Associated Press
13-03-2025
- Business
- Associated Press
Storm Exploration Grants Stock Options
VANCOUVER, BC / ACCESS Newswire / March 13, 2025 / Storm Exploration Inc. (TSX-V:STRM) ('Storm' or the 'Company') today announced that it has granted 1,860,000 stock options to certain of the Company's directors, officers and consultants. Each stock option is exercisable at $0.07 per common share and expires on March 12, 2030. The stock options were issued under the terms and conditions of Storm's rolling Stock Option Plan, and the grant is subject to the approval of the TSX Venture Exchange. About Storm Exploration Inc. Storm Exploration is a Canadian mineral exploration company focused on the discovery and development of economic precious and base metal deposits on four district-scale projects in northwest Ontario: Miminiska, Keezhik, Attwood and Gold Standard. For further information, please contact: Storm Exploration Inc.
