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Goldstorm Metals Announces Upsizing of Previously Announced Private Placement Financing to Approximately $2.1 Million, with Participation by Eric Sprott
SprottSprott(US:SII) Newsfileยท2025-06-19 19:55

Core Viewpoint - Goldstorm Metals Corp. is increasing its previously announced private placement financing to approximately $2.1 million due to strong investor demand [2]. Group 1: Offering Details - The Offering will consist of up to 15,441,483 non-flow-through units (NFT Units) priced at $0.07 each, generating gross proceeds of approximately $1,080,903.81 [2]. - Additionally, the Offering will include up to 10,071,428 flow-through units (Charity FT Units) priced at $0.1008 each, expected to raise about $1,015,199.94 [2]. - Each NFT Unit includes one common share and one-half of a warrant, while each Charity FT Unit consists of one common share and one-half of a warrant [3]. Group 2: Use of Proceeds - Net proceeds from the NFT Units will be allocated for working capital and general corporate purposes [4]. - Gross proceeds from the Charity FT Units will be used for Canadian exploration expenses, qualifying as flow-through mining expenditures [5]. Group 3: Offering Timeline and Conditions - The closing of the Offering is anticipated around June 26, 2025 [6]. - All securities issued will be subject to a statutory four-month hold period and require regulatory approval, including from the TSXV [7]. Group 4: Company Overview - Goldstorm Metals Corp. is focused on precious and base metals exploration, holding a significant land position in British Columbia's Golden Triangle, known for high-grade gold deposits [9]. - The company's flagship projects, Crown and Electrum, cover approximately 16,469 hectares across six concessions, with strategic proximity to major gold deposits [9].