Storm Exploration Completes Final Phase of Private Financing

Storm Exploration Inc., a Canadian mineral exploration company, announced the closure of its second and final tranche of a non-brokered private placement. The total financing reached $502,500, with the TSX Venture Exchange's final acceptance still pending. The offering included 8,850,000 units priced at $0.05 each, and 1,000,000 flow-through units at $0.06 each.

Proceeds from the placement will support exploration in Northern Ontario and general capital needs. Finders facilitated parts of the placement, earning $18,000 in fees and receiving warrants. The securities are subject to a four-month holding period due to Canadian regulations.

Related parties acquired 550,000 units as part of the offering, classified as a related party transaction, under specific exemptions. The venture's focus remains the development of precious and base metal deposits in Ontario.