Silver Storm closes $21M private placement with second tranche

Silver Storm Mining Ltd. (TSXV: SVRS)(FSE: SVR) has closed the second and final tranche of its non-brokered private placement, bringing total gross proceeds from the offering to $21,000,000.

The second tranche closed on August 28, 2026, with the issuance of 12,750,000 units at $0.50 per unit, raising $6,375,000. Combined with the first tranche, the company issued a total of 42,000,000 units under the offering.

Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one additional common share at $0.70 for a period of 18 months from the closing of the second tranche.

In connection with the second tranche, the company paid cash finders' fees totaling $136,918.50, equal to 3.0% of gross proceeds raised from investors introduced by eligible finders, including Canaccord Genuity Corp., Research Capital Corp., Haywood Securities Inc., Leede Financial Inc., and Harbourfront Wealth Management Inc.

The company states it intends to use net proceeds to fund surface and underground drilling programs at its La Parrilla Silver Mine Complex in Durango State, Mexico, and for general corporate and working capital purposes.

The offering was made available to accredited investors across Canadian provinces and territories and was conducted in part in the United States under exemptions from registration requirements under Rule 144A and/or Regulation D of the United States Securities Act of 1933. Securities issued are subject to a four-month and one-day hold period from the date of issuance of the applicable tranche.

The offering has received conditional approval from the TSX Venture Exchange.

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