Silver Storm Completes Private Placement Raising $21 Million

Silver Storm Mining Ltd., a mining company based in Toronto, finalized its non-brokered private placement, yielding total gross proceeds of $21 million. The second tranche, closing on August 28, 2026, brought in $6.375 million through the issuance of 12.75 million units at $0.50 each. The units consist of one common share and half a warrant allowing purchase of another share at $0.70 within 18 months.

Proceeds are slated for drilling initiatives at the company's La Parrilla Silver Mine in Mexico and general purposes. The private placement received conditional approval from the TSX Venture Exchange and attracted investors under existing prospectus exemptions. Finders' fees of $136,918.50 were paid for the second tranche, facilitated by firms including Canaccord Genuity Corp. and Haywood Securities Inc.

Although Silver Storm is advancing its La Parrilla Mine, the company highlights that production plans involve economic and technical risks as no current reserve estimates support operations yet.