Storm Exploration ( (TSE:STRM) ) just unveiled an update.
Storm Exploration Inc. has announced its intention to issue over 7 million common shares at $0.05 per share to settle an outstanding debt of approximately $352,000, which includes accrued management fees owed to a company controlled by a director and officer, as well as to an officer of Storm Exploration. This debt settlement is pending approval from the TSXV Venture Exchange and will result in a hold period for the shares issued. This move is expected to impact the company’s financial operations by addressing its debt obligations and potentially improving its 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 across 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
See more data about STRM stock on TipRanks’ Stock Analysis page.