Storm Exploration Inc. announced a non-brokered private placement of up to 4,166,667 units at a price of CAD 0.12 per unit for gross proceeds of up to CAD 500,000 on January 3, 2023. Each unit will consist of one common share and one-half of warrant. Each warrant will entitle the holder to purchase a common share at a price of CAD 0.18 for a period of 24 months from issuance.

The transaction may include participation from current insiders of the company. The offering may be closed in one or more tranches as subscriptions are received. All securities issued pursuant to the offering will be subject to statutory hold periods in accordance with applicable United States and Canadian securities laws.

Subject to TSX exchange approval, finder's fee may be paid with respect to the transaction. The transaction is subject to approval from TSX Venture Exchange.