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Storm Exploration ( (TSE:STRM) ) just unveiled an announcement.
Storm Exploration Inc. announced its intention to issue over 7 million common shares at $0.05 per share to settle outstanding debt of approximately $351,987. This debt includes accrued management fees owed to a company controlled by a director and officer, as well as to an officer of Storm Exploration. The proposed debt settlement is pending approval from the TSXV Venture Exchange, and all issued shares will be subject to a hold period under Canadian securities laws. This move aims to improve the company’s financial standing by addressing its liabilities, potentially enhancing its operational capacity and market positioning.
More about Storm Exploration
Storm Exploration Inc. is a Canadian mineral exploration company focused on discovering and developing economic precious and base metal deposits on four district-scale projects in northwest Ontario: Miminiska, Keezhik, Attwood, and Gold Standard.
Average Trading Volume: 34,751
Technical Sentiment Signal: Hold
Current Market Cap: $2.4M
Find detailed analytics on STRM stock on TipRanks’ Stock Analysis page.